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Macedonia Hospitality Industry Outlook 2024 - 2028

See how Macedonia Hospitality performed compared to key markets such as Italy, Spain and France.

Key Market Indicators

By 2028, Macedonian accommodation establishments are projected to reach approximately 14,920 bedplaces, a slight decline from around 14,940 bedplaces in 2023, maintaining a nearly steady year-on-year rate. This marks a continued trend since 1995, with the supply decreasing by an average of 1.8% annually. In 2023, North Macedonia was ranked 29th globally, with Iceland leading slightly ahead with the same number of bedplaces. Spain, France, and Germany held the second, third, and fourth positions, respectively. In terms of revenue, Macedonian accommodation services are expected to generate about €186 million by 2028, up from roughly €131 million in 2023, reflecting an annual growth rate of 5.5%. This growth has been more robust since 2016, averaging 8.8% per year. As of 2023, North Macedonia ranked 34th, with Bosnia and Herzegovina surpassing it with similar revenue figures. The top positions were occupied by Spain, France, and the United Kingdom. Accommodation expenditure in North Macedonia is forecasted to climb to approximately €271 million by 2028, increasing from around €226 million in 2023, at a compound annual growth rate (CAGR) of 3%. This upward trend has been consistent since 2005, with a 5.1% average annual increase in demand. In 2023, North Macedonia was in the 31st position, with Luxembourg ahead at similar expenditure levels. Italy, France, and Germany were the leading countries in this category.

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Macedonia Hospitality Market Data and Forecasts

How much will Macedonia Hospitality Market grow to 2028?

Forecast: Number of Tourist Accommodations Bedplaces in Macedonia
Forecast: Number of Hotels Bedplaces in Macedonia
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