The Domestic Tourism Expenditure on Accommodation Services for Visitors in Denmark experienced fluctuations from 2013 to 2023. From 2013 to 2019, there was a general growth trend with notable peaks in 2015 and 2016. However, from 2020 onwards, the expenditure dropped significantly, particularly due to the COVID-19 pandemic. By 2023, the value stood at 6.53 Billion Danish Krones, marking a 2.01% year-on-year decrease. The five-year CAGR leading up to 2023 was -5.9%, indicating a decline in the sector's growth.
Looking ahead, forecasts predict a continued downward trend, with an expected decrease in expenditure from 2024 to 2028. The projected five-year CAGR is -5.28%, with a total decline of 23.75% over this period.
Future trends to watch for:
- The impact of economic reforms and recovery post-COVID-19.
- Changes in travel behavior and preferences towards sustainable tourism.
- Technological advancements affecting the hospitality industry.
- Emerging challenges from global economic conditions and competitive destinations.
