According to Solifi’s 2023 Global Leasing Report, there was a promising 9.3% increase in new business volume in the leasing industry in 2021. The top 50 countries reported new business volume of $1.463 billion in 2021, up from $1.338 billion in 2020.

The report also showed the leasing industry has grown 84% in the past decade; however, findings in the report predict international growth will slow from 6% in 2021 to 2.7% in 2023. While global inflation is expected to slow down 6.5% in 2023 compared to 8.8% in 2022 , it’s forecasted to rise another 4.1% by 2024.

“Despite constant business disruption from the residual pandemic effects, unpredictable economic turbulence, and supply chain shortages, the global leasing market is growing. Innovation and resilience are key attributes of the leasing market and continue to underpin the industry’s growth,” David Hamilton, CEO of Solifi, said. “For the past 17 years, the Solifi Global Leasing Report has been the go-to guide for the industry and has become one of the leasing market’s most trusted and definitive resources. The invaluable research findings at both global and individual country levels provide the knowledge and insights leasing organisations need to make crucial business decisions to drive their continued growth.”