The employment in the Accommodation and Food Services Sector in Chile experienced fluctuating trends from 2013, with initial declines followed by a peak in 2016. From 2017 onwards, it showed a gradual decrease. As of 2023, the sector stood at 489.04 million hours in value. There was a minor year-on-year decline of around -0.11% in 2023, with a CAGR of approximately 0.22% over the last 5 years.
Key points include:
- Initial decline from 2013 to 2014, with -17.09% and -4.15% respectively.
- Significant increase in 2015 and 2016 with 9.77% and 3.96% year-on-year growth.
- Steady decline from 2017 onwards, with minor fluctuations around -0.5% to -3.62% in various years.
- Projected steady decrease from 2024 to 2028, at around a CAGR of -0.09%, reaching 486.12 million hours in 2028.
Future trends to watch for include potential impacts of economic changes, tourism fluctuations, and health crises on employment hours in this sector. Maintaining workforce stability and addressing market challenges will be crucial for the sector’s sustained growth.
