In 2023, Italy's Accommodation and Food Services sector stood at 53.55 billion Euros. The forecast shows a steady decline over the next five years, with a decrease from 53.06 billion Euros in 2024 to 50.67 billion Euros by 2028. This represents a continuous average contraction with a Compound Annual Growth Rate (CAGR) of approximately -1.15%. Specifically, the year-on-year change illustrates a progressively diminishing economic contribution from this sector.
Future trends to watch for:
- Potential impact of technological advancements on efficiency and operations.
- Effects of changing tourism patterns and consumer preferences.
- Regulatory changes and their influence on sector dynamics.
