The footwear sector in Belgium has seen a significant decline in the number of employees since 2014, with a notable drop of 23.39% from 2014 to 2015. Moving forward, the sector showed some fluctuation with occasional increases, such as in 2017 (14.69%) and 2018 (18.9%), but these were followed by significant decreases. The year 2019 marked a sharp fall by 27.69%. By 2023, the number of employees stood at 128, representing a 3.76% decline from the previous year. Over the past five years, the sector has experienced an average annual decrease (CAGR) of 2.93%, projecting a continued downward trend with a forecasted decline of 13.82% over the next five years.
Future trends to watch for in the Belgian footwear sector include:
- Potential impacts of automation and technological advancements reducing labor needs.
- Shifts towards sustainable and ethical fashion potentially affecting employment numbers.
- Economic factors such as changes in consumer spending and international trade policies.
- Potential for growth in niche markets like bespoke and luxury footwear.