The financial service activities (excluding insurance and pension funding) output in Austria has experienced fluctuations, starting from a unit value of 2.5 in 2013 and reflecting slight growth and declines over the subsequent years. By 2023, the sector regained a value of 2.2. The year-on-year variation in 2023 was 4.76%, indicating a slight recovery from the 2022 drop of 8.7%. The compound annual growth rate (CAGR) over the last five years stood at -0.89%. Forecasted data suggests a continuing moderate decline, settling at a value of 2 by 2028 with an expected 5-year CAGR of -0.97%.
Future trends to watch for include:
- Impacts of technology advancements and digital transformation on financial services.
- Regulatory changes within the EU affecting the financial services sector.
- Economic recovery post-pandemic and shifts in consumer behavior.
- Impact of geopolitical factors on financial activities in Austria.