In 2023, the output for activities auxiliary to financial services and insurance in the UK stood at approximately 46.85 billion euros. From 2024 to 2028, forecasts indicate modest growth, with the output rising from 47.89 billion euros to 50.1 billion euros. This reflects a year-on-year percentage increase averaging around 0.6% to 1.1% annually. The five-year compound annual growth rate (CAGR) is projected to be approximately 0.8%, suggesting a steady, albeit unspectacular, growth trajectory.
Future trends to watch for include:
- Technological advancements driving operational efficiencies and cost savings.
- Regulatory changes affecting the financial services landscape.
- Brexit's ongoing impact on the UK's financial services sector.
- Shifts towards sustainable and ESG-focused financial products.
