Between 2013 and 2023, employment in Italy's Accommodation and Food Service Activities sector faced notable fluctuations. In 2013, it was at 666.04 thousand FTEs and fell sharply by 16.6% in 2014. This was followed by a recovery phase, with employment reaching 719.08 thousand FTEs by 2019. The sector was significantly impacted in 2020, with a 39.43% decline due to the COVID-19 pandemic. However, it rebounded with a 32.7% rise in 2021 and continued increasing, reaching 721.55 thousand FTEs in 2023. The past five-year CAGR (2018-2023) stood at a modest 0.14%.
Future trends are promisingly stable with forecasts suggesting a gradual increase in employment, reaching 725.51 thousand FTEs by 2028. This translates to a projected five-year CAGR of 0.09%. Potential factors influencing future trends include technological advancements in service delivery, changes in consumer behavior post-pandemic, and evolving regulatory frameworks. Close attention should be paid to labor market dynamics, tourism trends, and economic policies that can impact this sector's employment landscape.