In 2023, Italy led with the highest number of Gazelles in financial services and insurance, at 14. Lithuania followed closely with 12, illustrating a significant year-on-year growth. Romania and Portugal exhibited moderate growth, while the Czech Republic and Hungary had slower increases. Latvia remained stable with no change. Slovakia showed notable growth, yet numbers remained low. Over the last five years, each country demonstrated varied growth, with Lithuania and Slovakia standing out with the highest Compound Annual Growth Rates (CAGR).
Future trends to watch include the potential for further growth in Central and Eastern European markets, driven by innovation and digital transformation in financial services, promoting the emergence of young high-growth enterprises.
Top countries in Number of Young High Growth Enterprises (Gazelles) in Financial Services and Insurance by Country
| # | 8 Countries | Units (Enterprises) | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 Italy | 14 | 2023 | 0% | +4.94% | View data |
| 2 | 2 Lithuania | 12 | 2023 | +33.33% | +18.92% | View data |
| 3 | 3 Romania | 8 | 2023 | +33.33% | +9.86% | View data |
| 4 | 4 Portugal | 6 | 2023 | 0% | +8.45% | View data |
| 5 | 5 Czech Republic | 5 | 2023 | 0% | +4.56% | View data |
| 6 | 6 Hungary | 4 | 2023 | 0% | +5.92% | View data |
| 7 | 7 Latvia | 3 | 2023 | +50% | View data | |
| 8 | 8 Slovakia | 2 | 2023 | +100% | +14.87% | View data |
