Following the rising global inflation, business insolvencies are forecast to increase in all world regions in 2023, increasing by almost 50 percent in North America. Following a sharp increase with the 2008-09 financial crash, the number of business insolvencies in North America declined each year from 2010 to 2019. Perhaps somewhat surprisingly, except for Eastern and Central Europe and Latin America, the number of insolvencies fell in all regions in 2020, despite the COVID-19 pandemic.
Year-on-year growth in global business insolvencies from 2008 to 2023, by region
(with predictions for 2024)
* Values are forecast.
The source has calculated the values using on annual changes to their regional insolvency indexes, which uses a base year of 2000.
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Euler Hermes. (April 11, 2023). Year-on-year growth in global business insolvencies from 2008 to 2023, by region (with predictions for 2024) [Graph]. In Statista. Retrieved September 20, 2024, from https://www-statista-com.ezproxy.canberra.edu.au/statistics/1116418/annual-growth-business-insolvencies-region/
Euler Hermes. "Year-on-year growth in global business insolvencies from 2008 to 2023, by region (with predictions for 2024)." Chart. April 11, 2023. Statista. Accessed September 20, 2024. https://www-statista-com.ezproxy.canberra.edu.au/statistics/1116418/annual-growth-business-insolvencies-region/
Euler Hermes. (2023). Year-on-year growth in global business insolvencies from 2008 to 2023, by region (with predictions for 2024). Statista. Statista Inc.. Accessed: September 20, 2024. https://www-statista-com.ezproxy.canberra.edu.au/statistics/1116418/annual-growth-business-insolvencies-region/
Euler Hermes. "Year-on-year Growth in Global Business Insolvencies from 2008 to 2023, by Region (with Predictions for 2024)." Statista, Statista Inc., 11 Apr 2023, https://www-statista-com.ezproxy.canberra.edu.au/statistics/1116418/annual-growth-business-insolvencies-region/
Euler Hermes, Year-on-year growth in global business insolvencies from 2008 to 2023, by region (with predictions for 2024) Statista, https://www-statista-com.ezproxy.canberra.edu.au/statistics/1116418/annual-growth-business-insolvencies-region/ (last visited September 20, 2024)
Year-on-year growth in global business insolvencies from 2008 to 2023, by region (with predictions for 2024) [Graph], Euler Hermes, April 11, 2023. [Online]. Available: https://www-statista-com.ezproxy.canberra.edu.au/statistics/1116418/annual-growth-business-insolvencies-region/