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Belgium
- Recruitment landscape
- Economic indicators
- Labor market
- Working life
Your global agency guide to...
Belgium
Belgium, with a GDP of $632.2 billion, ranks as the 23rd largest economy globally and 12th in its region. Hosting industries like engineering, chemicals, and pharmaceuticals, Belgium's job market is moderate with 5.5% unemployment. This suggests a stable labor landscape. With limited recruitment agencies, talent acquisition focuses on sector expertise.
Belgium'S
AGENCY LANDSCAPE
2.3K
Agencies operating in Belgium
A high number of agencies indicates a mature recruitment industry, marked by strong talent demand, established labor laws and economic stability.
17-23%
Typical fee range
Countries with higher fees imply finding talent is harder to find whilst lower fees indicate a high-volume, commoditized market.
Belgium'S
FEATURED AGENCIES
Gentis Recruitment
Belsberg
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Belgium'S
GROSS DOMESTIC PRODUCT (GDP) RATING
23
WORLD RANKED
Belgium ranks 23rd in the world by current economic output
$632B
NOMINAL GDP (US$)
GDP reflects the overall size and economic strength of the country’s economy.
12
EMEA RANKED
Belgium is the 12th biggest GDP in EMEA out of 109 countries in the region
GDP GROWTH (%)
The above chart compares how Belgium's GDP has grown, compared to the rest of the world and the EMEA region in the last 7 years.
Positive growth indicates an expanding economy, while negative growth or recession signifies economic contraction. Strong growth can encourage hiring, but slower growth might lead to freezes or layoffs, influencing talent sourcing as businesses adapt to changing market conditions and demands.
Belgium'S
CURRENCY AND CODE
€
Country currency
BEL
Country ISO code
Belgium'S
INFLATION RATE
3.6%
CURRENT RATE
▲1.3% INCREASE
Inflation represents the rate at which prices rise and purchasing power diminishes. High inflation may prompt employees to seek higher wages, potentially impacting company profitability. This situation could lead to budget constraints or hiring freezes, which might influence talent availability and sourcing strategies.
Belgium'S
COST OF LIVING
COST OF LIVING INDEX EXPLAINED
The cost of living has a direct impact on salary expectations and the competitiveness of compensation packages. It can influence the appeal of certain locations-while high-cost areas may attract highly skilled professionals looking for higher salaries, lower-cost areas can appeal to companies looking to minimize salary expenses or candidates seeking a better work-life balance.
Belgium'S
LABOUR STATISTICS
12M
POPULATION
With a population of 11,584,008, Belgium is a medium sized country by global standards. Belgium's youth population is just below the world average, indicating it may face challenges in labor market sustainability over time. The working population in Belgium is close to the world average, suggesting a stable labor market that can adequately meet the economy's demands. Belgium's elderly population is just above the world average, suggesting a growing dependency ratio, which may strain the labor market.
Belgium'S
RELIGION
Religion
In religiously diverse countries, a broad sourcing and engagement approach whilst appealing to inclusive practices resonates with this candidate market. In contrast, in a homogeneous religious environment, understanding dominant cultural norms is often more important when engaging with talent.
Belgium'S
UNEMPLOYMENT RATE
5.5%
CURRENT PERCENTAGE
▼0.05% REDUCTION
Belgium has an unhealthy unemployment rate, suggesting there may be some economic or structural challenges . Between 2022 and 2023, there was a small decrease in unemployment, suggesting continued economic stability with a slight improvement in job availability
Belgium'S
TOP PERFORMING COMPANIES AND INDUSTRIES
Top performing companies
AB InBev
Colruyt
KBC Group
Top industries
Chemicals
Pharmaceuticals
Processed food and beverages
Belgium'S
GENDER DEMOGRAPHICS
RATIO OF MALES TO FEMALES (BY AGE)
LABOUR PARTICIPATION BY GENDER (%)
59
/
51
Male | Female
In Belgium there is a low gap in participation rates between males and females, indicating a relatively balanced workforce particpation often reflective of strong gender equality policies or cultural norms supportive of equal gender parity.
Belgium'S
WORKING LIFE
$55K
Average gross annual wage (US$)
This figure represents yearly income before taxes. Higher wage countries are above $50,000 USD. Attracting talent in lower-wage markets can be cost-effective; however, offering above-average compensation may be required for in-demand skills.
$4.6K
Average gross monthly wage (US$)
This figure represents monthly income before taxes. Higher-wage countries typically exceed $4,000 USD per month. Attracting talent in lower-wage markets can be cost-effective; however, offering above-average monthly compensation may be necessary for in-demand skills.
Belgium'S
WORKING LIFE
10DAYS
Minimum annual holidays
Minimum annual holidays reflect mandated leave. Hiring in countries with high allowances (over 25 days) will require emphasizing work-life balance when recruiting. In countries with fewer holidays (under 15 days), offering additional leave can enhance recruitment and set the organization apart.
38HRS
Average working full time week
Belgium's standard workweek is 38 hours; hours exceeding this are considered overtime and subject to extra pay, though some positions may have exceptions.
Belgium'S
TOP BENEFITS
15WEEKS
Maternity leave
Maternity: 15 weeks, starts 6 weeks before birth, 82% salary for 30 days, then 75%. Paternity: 10 days, first 3 fully paid, next 7 at 82%. Parental: 4 months, requires 12 months' tenure.
30DAYS
Sick leave
Employees get full pay for the first 30 days of sick leave from employers. Afterward, they typically receive government sickness benefits. A doctor's note is required for all sick leaves.
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