Denmark's inbound tourism expenditure on accommodation services has shown significant growth over the past decade, reaching DKK 10.68 billion in 2023. From 2013 to 2019, there was a steady increase, highlighted by double-digit growth rates in 2014, 2018, and 2019. The COVID-19 pandemic severely impacted 2020, with a 59.33% decline. However, the market quickly rebounded with strong year-on-year growth rates of 77.55% in 2021 and 34.08% in 2022. The last two years exhibited a 20.81% increase in 2023, while the five-year CAGR up to 2023 stood at 5.24%.

Looking forward, the forecast indicates continued growth with a five-year CAGR of 4.08% leading to DKK 13.83 billion by 2028, representing a 22.16% increase over this period.

Future trends to watch for:

Post-pandemic recovery and consistent growth in tourism activities.
Potential impact of economic fluctuations and geopolitical factors on tourism expenditure.
Increasing preference for sustainable and eco-friendly accommodation options.
Technological advancements enhancing the visitor experience in accommodation services.