The employment in the Specialized Construction Activities sector in Belgium has shown fluctuating trends over the last decade. From a high of 105.21 thousand FTEs in 2017, employment dropped significantly to 98.1 thousand in 2020 due to the impacts of economic downturns. Although there was a recovery to 102.0 thousand by 2021, the employment numbers have slightly declined to 101.17 thousand in 2023. The year-on-year variations have been inconsistent, with noticeable drops in 2018 and 2020, but some recovery periods like 2019 and 2021.
Looking forward to the forecast period from 2024 to 2028, a downward trend is projected, with employment expected to decrease gradually to 99.15 thousand by 2028. The CAGR over this forecast period is estimated at -0.32%, indicating a slow but consistent decline in employment.
Future trends to watch include the impact of technological advancements and automation in construction, potential economic fluctuations post-pandemic, and policy changes affecting the construction sector. These factors could either mitigate the downward trend or accelerate it depending on their nature and extent.
