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Posted on November 14 2023

75.8 Million reasons for immigrants to choose work in the EU

By Editor
Updated November 28 2023

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Highlights: EU businesses employed 75.8 million people

  • 31 million businesses in EU employed 156 million workers in 2021, with each business employing up to 49 people and generated a total of €3.3 trillion, representing 35% of total value (€9.3 trillion). 
  • According to the data, the sector with the largest turnover in 2021 was the "industry" sector.
  • The trade sector accounted for 5.9 million businesses with 29.5 million employees, with the construction industry representing 12% of all the businesses with 13.4 million people employed.
  • The other sectors listed made up to 61% of all business which is 19.0 million businesses.

*Want to migrate overseas? Y-Axis will guide you in step by step process.

EU business stats

EU had 31 million businesses employing 156 million workers in 2021. 98% (30.3 million) of the total were micro and small businesses, each employing up to 49 people. 75.8 million people were employed by micro and small businesses combined, i.e., 49% of all people employed in firms. They generated €3.3 trillion in value added, representing 35% of the total value added (€9.3 trillion). 

The 240 000 medium-sized businesses, which employed 50–249 people, made up 0.8% of all businesses, and had 24.0 million employees, registering a value of €1.6 trillion (17%). 

Although large businesses (with more than 249 employees) represented only 0.2% of all businesses, they employed more than a third of the business labor force (55.6 million, 36%) and created nearly half (48%) of the value contributed (€4.4 trillion),

For the first time, complete structural business statistics (SBS) is prepared in accordance with the new European Business Statistics (EBS) framework with a number of enhancements that boost the data for the EU’s business sector. More factors and economic activities are now included by SBS, such as banking and insurance activities as well as activities related to services (education, human health and social work, arts, entertainment, and recreation).

Preliminary SBS data for 2021 was released by Eurostat in December 2022, for the first time by size classes of enterprises, for three variables: employment, turnover, and number of enterprises.

Industry biggest turnover

According to the data, the sector with the largest turnover in 2021 was the "industry" sector. It employed about one-fifth of the business labor force (33.0 million people, 21%) and produced one-third of the turnover (€10.6 trillion, 33%).

The "trade" sector accounted for 5.9 million enterprises, or 19% of all businesses. 31% (or €9.9 trillion) of the entire sales was produced by the 29.5 million employees there.

The “construction” industry represented 12% of the all the businesses but generated only 6% of total revenue (€1.9 trillion), with 13.4 million workers employed in this industry.

The largest category of businesses, making up 61% of all businesses (19.0 million enterprises) included business services from "transportation and storage" to "accommodation and food service activities," "education," "human health and social work activities," and "arts, entertainment and recreation."

These stats are from the previous years, and Europe strives to increase employment now and in the future. If you're seeking for a job in Europe, now is the perfect opportunity!

Looking for work in abroad? Talk to Y-Axis, the world’s no. 1 overseas immigration company.

For more updates on Immigration news, follow Y-Axis Europe news page!

Web Story: 75.8 Million reasons for immigrants to choose work in the EU


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