The household expenditure on restaurants and hotels in Sweden has demonstrated substantial growth from 2013 to 2019, marked by gradual year-on-year increases and a robust CAGR peaking at 6.91% in 2017. However, the Covid-19 pandemic in 2020 caused a significant setback with a 14.88% year-on-year decline. The period recovered in 2021 with a 7.12% increase, and saw a historical leap in 2022 with a 31.89% year-on-year increase, only to experience a modest drop of 8.67% in 2023. In 2023, expenditures stood at 161.57 billion SEK.
From 2023 onwards, forecasted data indicates a steady growth trend, with expenditures expected to rise to 187.08 billion SEK by 2028. The forecasted five-year CAGR is projected at 2.32%, reflecting moderate year-on-year growth as the market stabilizes.
Future trends to watch for include:
- Economic uncertainties impacting disposable income levels.
- Shifts in consumer behavior post-pandemic, favoring in-home dining options.
- Inflationary pressures and their effects on household expenditure patterns.
