The Financial Service Activities Gross Value Added in Austria experienced various trends over the past decade. From 2013 to 2016, it exhibited moderate fluctuations with a significant drop of -4.64% in 2016. The period from 2017 to 2020 saw a steady increase in value, excluding a slight decline in 2020. A notable spike occurred in 2022, with a year-on-year increase of 12.74%, followed by a decrease of -6.06% in 2023. The value in 2023 was 10.66 Billion Euros. Over the last five years, the CAGR stands at 2.66%, indicating a positive growth trend.
For the future, from 2024 onwards, forecasts predict a stable increase in GVA with an average annual growth rate of 0.81%. By 2028, the GVA is forecasted to reach 11.22 Billion Euros, which represents a 4.13% growth from 2023.
Future trends to watch for:
- Stability and moderate growth in the financial services sector.
- Potential impacts of global economic conditions and local regulatory changes.
- Technological advancements and their influence on financial service activities.