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Belgium Hospitality Industry Outlook 2024 - 2028

See how Belgium Hospitality performed compared to key markets such as Germany, Spain and France.

Key Market Indicators

Belgian accommodation services revenue is projected to reach approximately €4 billion by 2028, up from around €3.3 billion in 2023. This marks an annual growth rate of 2.7%. Since 2010, the Belgian market has experienced a yearly increase of 3.1%. In 2023, Belgium ranked 15th, with Norway surpassing it with the same revenue. The top three countries in this sector were Spain, France, and the United Kingdom. The number of Belgian accommodation establishments is expected to grow to approximately 231,000 bedplaces by 2028, from around 201,000 bedplaces in 2023, reflecting an annual growth rate of 2.2%. Since 1995, the supply has grown by 4% annually. In 2023, Belgium ranked 11th, with Switzerland taking the lead with the same number of bedplaces. Spain, France, and Germany occupied the second, third, and fourth positions respectively. Belgian accommodation expenditure is forecasted to reach about €1.8 billion by 2028, increasing from €1.6 billion in 2023 at an annual rate of 1.5%. However, since 2000, the demand has declined by 1.4% annually. In 2023, Belgium was ranked 16th, with the Czech Republic ahead at the same expenditure level. Italy, France, and Germany were the top three in this ranking.

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Belgium Hospitality Market Data and Forecasts