Forecast: Value Added by Wholesale, Retail Trade, Restaurants and Hotels in Australia

The value added by the Wholesale, Retail Trade, Restaurants, and Hotels sector in Australia stood at 156.34 billion USD in 2023. A historical analysis shows fluctuations characterized by a significant drop between 2014 and 2015 and a sharp decline in 2020 due to external shocks, likely influenced by the pandemic. However, there were notable recoveries in 2021 and 2022, with smaller but continuous growth forecasted toward 2028.

Year-on-year variations for the last two years show a growth of 6.61% in 2022 and a modest increase of 1.24% in 2023. The CAGR over the last five years (from 2018 to 2023) averaged out to approximately 1.32%, signaling a trend of slow, albeit steady, recovery and growth.

Going forward, the forecasted CAGR for the next five years is estimated at 0.99%, with a cumulative growth rate of 5.05% by 2028. Key trends to watch for include the sector's adaptation to digital retail solutions, post-pandemic recovery impacts, and evolving consumer preferences.