The production volumes of accommodation and food services in Japan are projected to decline from 2024 to 2028. In 2023, the actual production volume stood at 29.850 trillion Japanese Yens. The forecasted values show a gradual year-on-year decrease: -0.67% in 2025, -0.66% in 2026, -0.65% in 2027, and -0.64% in 2028. The compound annual growth rate (CAGR) between 2023 and 2028 is approximately -0.66%, indicating a consistent but modest reduction in production volumes.
Trends to watch for:
- The impact of demographic changes and aging population on domestic tourism.
- The recovery pace of international tourism post-pandemic.
- Technological advancements driving efficiency and innovation in food services.
- Economic policies and their effects on consumer spending.
