The internal tourism consumption of food and beverage serving services in Denmark stood at 25.47 Billion Danish Krones in 2023. This sector experienced a significant fluctuation, particularly in 2020 when consumption dropped by 31.79% due to the COVID-19 pandemic. However, it showed a strong recovery with 29.96% growth in 2021 and a continued increase of 18.05% in 2022, followed by a 12.8% rise in 2023. The Compound Annual Growth Rate (CAGR) over the last five years (2018-2023) is calculated at 3.81%.
Looking forward, the forecasted data indicates a steady growth trajectory, with the sector expected to reach 32.05 Billion Danish Krones by 2028. The forecasted five-year CAGR from 2023 to 2028 is 3.63%, showing consistent growth. With an overall forecasted five-year growth rate of 19.53%, the market is poised for positive development.
Future trends to watch for:
- Continued recovery and growth post-COVID-19 as tourism normalizes.
- The impact of inflation and pricing strategies on consumer spending.
- Potential shifts in consumer preferences towards sustainable and organic food options.
- Technological advancements enhancing the dining experience, particularly in tourist hotspots.
- Policy changes or government incentives promoting tourism and gastronomy.
