Over the years, the number of employees in the business services sector in Spain has shown a continuous upward trend. Starting from 6.6 million in 2013, the sector grew to 8.15 million by 2023, reflecting the industry's resilience and growth momentum. This upward trajectory continued annually, albeit at diminishing growth rates over the past few years, with a year-on-year variation of 1.2% in 2023. The Compound Annual Growth Rate (CAGR) over the last five years stood at 1.13%.
Looking ahead, the forecast for 2028 suggests a 5-year CAGR of 0.86%, with a predicted total growth rate of 4.36% over the next five years, bringing the number of employees to 8.6 million. This highlights a slower but steady growth trend in the business services sector.
Future trends to watch for include:
- Technological advancements driving automation and efficiency.
- Increasing demand for specialized business services.
- Impacts of economic policy changes and globalization.
- Shifting labor market dynamics and the influence of remote work.
- Sustainability practices and their influence on service offerings and employment.