Analysis of the employment trends in the business services sector in Turkey reveals that in 2023, the sector employed 10.42 million persons. This reflects a growth trend from 2013 to 2023, although with notable fluctuations. The year-on-year growth was notable up until 2017, peaking at 5.34%. However, between 2018 and 2019, the sector experienced a decline with -2.16% and -1.91% respectively. The employment numbers showed recovery post-2020 with modest increments.
In the latest two years, the employment growth rates were 1.74% in 2022 and 1.68% in 2023. Over the past 5 years leading to 2023, the compound annual growth rate (CAGR) was 1.36%, indicating a slower but steady growth trajectory.
Future Trends to Watch For:
- The sector is forecasted to grow at an average CAGR of 1.18% from 2024 to 2028, achieving a total growth rate of 6.05% over these years.
- This suggests a stabilizing trend in employment numbers with consistent, though modest, gains annually.
