The forecasted total hours worked in Germany's Accommodation and Food Services sector demonstrates a modest growth trajectory from 2024 onwards. In 2023, this figure was approximately 2.42 billion hours, indicating a stable recovery path post-COVID. The annual growth is expected to be minimal, hovering around 0.41% from 2024 to 2025, and maintaining a similar pace through to 2028. Over the next five years, the compound annual growth rate (CAGR) is projected to be about 0.41%, signifying stability and gradual recovery.
Future trends to watch for include:
- Impact of technological advancements in the hospitality sector on labor demand.
- Potential economic fluctuations affecting tourism and thus the hospitality workforce.
- Demographic shifts and their influence on the availability of labor in this sector.