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Reflecting on 2024: A year of cautious progress and evolving trends

As we close the chapter on 2024, Europe’s economic landscape tells a story of resilience amidst challenges. From central banks navigating rate cuts to an uneven economic recovery and a recalibration of artificial intelligence (AI) investments, this year highlighted the complexities of rebuilding stability in a rapidly changing world.

Financial outlook

Younger Europeans struggle to keep up with rising costs

Europe’s economic recovery has been uneven across generations, with younger consumers facing greater financial challenges than their older counterparts. Intrum’s latest European Consumer Payment Report (ECPR) reveals that while many Boomers are navigating economic pressures successfully, Millennials and Gen Z consumers are struggling to keep up with rising costs, often turning to credit to bridge the gap.

Payment trends

Credit cards & loans

Vulnerability

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Corporate indebtedness in Europe

Corporate indebtedness in Europe has become a critical concern as economic pressures push insolvency rates higher. With businesses facing mounting challenges from inflation, supply chain disruptions, and rising interest rates, understanding how these factors interplay is key to navigating the uncertain road ahead.

Financial outlook

Payment trends

2024: €10.5 trillion oustanding receivables

European businesses estimate that they are owed a staggering €10.5 trillion in receivables, an amount close to the combined GDP of France, Germany, and the UK. As this sum grows, the risk of late or unpaid invoices increases, putting significant pressure on businesses' cash flow, liquidity, and potential for future growth.

Financial outlook

Payment trends

AI's growing role in credit management

As AI continues to evolve, European businesses are increasingly turning to artificial intelligence to enhance credit management and improve payment processes. According to the European Payment Report 2024, businesses see AI as an essential tool in handling the complexities of late payments and fraud detection, but there are also significant risks involved.

Payment trends

Automation

Social media and impulse spending: a growing financial concern ahead of Black Friday

As Black Friday approaches, the holiday shopping season once again brings a heightened risk of overspending, with social media and credit dependency playing key roles in driving financial vulnerability.

Digital

Payment trends

Credit cards & loans

Can Generative AI drive global economic growth while mitigating risks?

The rise of Generative Artificial Intelligence (GenAI) is fuelling hopes for a significant boost in global productivity and economic growth. However, its rapid adoption also introduces concerns about inequality, job displacement, and industrial concentration.

Financial outlook

Digital

Europe's €275bn problem

The time that businesses spend chasing late invoices and negotiating payment terms soon adds up. According to our 2023 survey data, the average European business spends around 10-and-a-half hours each week chasing customers for payment. This is costing Europe a quarter of a trillion euros a year.

Debt collection

Payment trends