This year is different than usual … Whereas in recent years the growth of the Dutch economy has invariably been around 3%, this year we are heading for a contraction of -8% as a result of the COVID-19 pandemic (OECD Economic Outlook 107).
Incidentally, the outlook is not bad: unlike the 2008 crisis, there is more confidence in the economic system and there is a prospect of a vaccine against COVID-19. As a result, the Dutch economy is expected to grow by +6% next year (OECD).
Contrary to other sectors, Software & IT services in the Netherlands has proven robust with an overall growth rate of 1% to 2% (ING, Rabobank, S&P), although this growth rate is considerably lower than in previous years. We see a number of effects in this:
The software sector contributes about 3% to the Dutch economy (GNP). Although the participants of the Main Software 50 have not yet shared financial information about 2020, they have been asked about revenue growth for the next two years. 42% of the respondents expect to continue to grow more than 20% (compared to 58% of the companies in the previous edition). This also indicates robustness of the Dutch Software sector.
The Main Software 50 is an initiative of Main Capital Partners