Forecast: Number of Persons Employed of Non Life Insurance in Spain

The number of persons employed in the non-life insurance sector in Spain saw significant fluctuations from 2013 to 2023. As of 2023, the employment stood at 50.26 thousand. From 2013, the sector showed variances, with a notable decrease in 2014 by approximately 5.07% but recovered in 2015 with a significant rise of 37.62%. Despite some ups and downs in subsequent years, the sector had a notable growth, reaching its peak in 2023 with an increase of 12.61% from the previous year. The CAGR over the last five years from 2018 to 2023 was 3.41%, indicating a steady growth trend.

Looking forward, the forecasted data from 2024 to 2028 suggests a positive outlook, with employment expected to grow at a CAGR of 3.77%, resulting in an overall growth rate of 20.31% over this period. By 2028, it is anticipated that employment will reach 63.79 thousand, showing a consistent upward trend.

Future Trends to Watch For:

• The impact of technological advancements and digitalization on employment within the sector.
• The role of regulatory changes and economic factors influencing the non-life insurance market.
• Potential growth opportunities emerging from new insurance products and services adapting to evolving customer needs.