European Hospitality Trends in 2024
Hospitality is part of Tourism and includes a number of sub-sectors such as Hotel and Camping. You may also be interested in Cultural Attraction.
**European Accommodation Sector Set for Modest Growth by 2028** The number of bedplaces in European accommodation establishments is projected to rise to approximately 8.8 million by 2028, up from around 8.2 million in 2023. This represents an average annual growth rate of 1.1%. Since 2019, the supply of bedplaces in Europe has increased by 1.3% annually. Italy leads the continent with the highest number of bedplaces, tallying around 1.9 million in 2023. Following Italy, Spain, France, and Germany secured the second, third, and fourth positions, respectively. Notably, Portugal experienced a significant year-on-year increase of 8.7%, while Greece saw a decline of 6.8% since 2019. **Revenue Forecasts Indicate Steady Growth** Revenues from European accommodation services are expected to reach approximately €237.9 billion by 2028, up from €258.5 billion in 2023, marking an average annual growth rate of 1.3%. Since 2019, the market has seen a yearly increase of 3.1%. Germany dominated the European accommodation services revenue ranking in 2023 with €42 billion. Spain, France, and the United Kingdom followed in second, third, and fourth places, respectively. Serbia showed a remarkable year-on-year revenue growth of 30.5%, contrasting with Iceland’s decline of 4.1% since 2019. **Expenditures to See Gradual Increase** European accommodation expenditure is forecasted to reach around €161.2 billion by 2028, slightly up from €161.3 billion in 2023, growing at an average rate of 0.9% per year. Since 2019, demand has increased by 0.4% annually. The United Kingdom topped the expenditure rankings in 2023, with spending hitting €31.4 billion. Italy, France, and Germany followed in the subsequent spots. Macedonia experienced an annual growth of 5.1% in expenditures, while Luxembourg saw a 7% decline since 2019. As the European accommodation sector continues to evolve, these trends highlight the growth opportunities and challenges facing various countries in the region.
Top 10 countries
In 2024 major markets in the Hospitality Industry were:
World Hospitality Market Data and Forecasts
How much the Hospitality industry is expected to grow to 2028?
World Hospitality Top Rankings
Global Hospitality Statistics
- Overnight Stay 70 countries (Europe, Northern Europe, Western Europe...)
- Accommodation Expenditure 64 countries (Europe, Western Europe, Northern Europe...)
- Passenger Transport Expenditure 85 countries (Europe, Western Europe, Northern Europe...)
- Overnight Stay In Hotel 76 countries (Europe, Northern Europe, Southern Europe...)
- International Departure 137 countries (Europe, Northern Europe, Western Europe...)
- Overnight Stay In Camping Grounds 69 countries (Europe, Northern Europe, Western Europe...)
- Tourist Arrivals 225 countries (Europe, Northern Europe, Southern Europe...)
- Accommodation Services Employment 74 countries (Europe, Southern Europe, Northern Europe...)
- Accommodation Establishments Number 69 countries (Europe, Northern Europe, Southern Europe...)
- Number Of Employees 207 countries (Europe, Northern Europe, Southern Europe...)