Forecast: Wages and Salaries in Accommodation and Food Services in Canada

The forecast for wages and salaries in Canada's accommodation and food services sector indicates a steady upward trend, growing from 40.57 billion in 2024 to 44.25 billion by 2028. This growth reflects a consistent year-on-year increase, with the sector seeing a robust recovery post-pandemic, likely supported by increased tourism and domestic spending. Over the past two years leading up to 2024, there was volatility due to market disruptions, but the sector is predicted to stabilize and exhibit a healthy compound annual growth rate (CAGR) over the forecast horizon.

Future trends to watch for include:

  • Potential impacts of labor shortages projected to influence wage levels.
  • Technological advancements and automation may alter employment and wage dynamics.
  • Economic factors such as inflation and consumer demand shifts could affect wage growth trajectories in this sector.

Top Countries about Food Services