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Norway Hospitality Industry Outlook 2024 - 2028

See how Norway Hospitality performed compared to key markets such as the United Kingdom, Italy and France.

Key Market Indicators

**Norwegian Accommodation Expenditure Projected to Hit €2.09 Billion by 2028** Norwegian accommodation expenditure is estimated to reach €2.09 billion by 2028, up from €1.84 billion in 2023, marking an annual growth rate of 2%. Since 1980, demand in Norway has increased by 2.5% annually. In 2023, Norway ranked 14th globally in accommodation expenditure, with Ireland surpassing it at €1.84 billion. Italy, France, and Germany occupied the second, third, and fourth spots, respectively. **Increase in Norwegian Accommodation Establishments** The number of accommodation establishments in Norway rose to 54,030 bed places in 2022, up from 52,950 in 2021, reflecting a 2% year-on-year increase. Since 2000, the supply has expanded by 3.2% annually. In 2022, Norway ranked 22nd globally, with Bulgaria slightly ahead at 54,030 bed places. Spain, France, and Germany held the second, third, and fourth positions, respectively. **Norwegian Accommodation Services Revenue to Reach €3.9 Billion by 2028** Revenue from Norwegian accommodation services is projected to reach €3.9 billion by 2028, rising from €3.64 billion in 2023, with a yearly growth rate of 1.1%. Since 2010, the Norwegian market has seen an annual growth of 1.8%. In 2023, Norway ranked 14th in accommodation services revenue, with Ireland leading at €3.64 billion. Spain, France, and the United Kingdom secured the second, third, and fourth places, respectively.

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Norway Hospitality Market Data and Forecasts