The employment in the Food and Beverage Service Activities Sector in Denmark has shown significant growth from 2013 to 2023. The number of Full-Time Equivalents (FTE) increased from 38.31 thousand in 2013 to 53.94 thousand in 2023. This period experienced fluctuations with notable growth from 2013 to 2018, a slight dip in 2019 and a sharp decline in 2020 due to external factors, likely the COVID-19 pandemic. There was a strong recovery in 2021, and gradual increases resumed up to 2023. The compound annual growth rate (CAGR) over the last five years stands at approximately 1.32%.
Future trend highlights to watch for include:
- A forecasted steady growth with a predicted CAGR of 1.94% from 2024 to 2028, reaching 60.95 thousand FTE by 2028.
- Potential impact of economic fluctuations and pandemic recovery on employment growth rates might create volatility.
- Technological advancements and automation within the sector could shift employment dynamics, possibly affecting future growth trends.