The Accommodation and Food Services output in Belgium experienced varied trends from 2013 onwards. From a relatively stable growth trajectory between 2013 and 2019 with an average CAGR of approximately 2.02%, the sector suffered a sharp decline of -33.33% in 2020 due to the pandemic, with a partial recovery in 2021 and 2022. However, 2023 saw a slight decline of -5%. For the future, the forecasts suggest stability from 2024 to 2028, with a forecasted 5-year CAGR of 0%.
Future trends to watch for:
- Potential impacts of economic recovery measures post-pandemic.
- Shifts in consumer behavior towards tourism and dining out.
- Technological advancements in food delivery and accommodation bookings.
- Sustainability trends affecting food services and accommodation industries.
