The turnover of hotels in Sweden has shown significant variation over the period from 2013 to 2028, measured in billion euros. Actual data for 2023 revealed a turnover of 5.51 billion euros. Notably, 2020 saw a dramatic decrease of 38.11%, largely attributable to the global pandemic, but by 2021 the market began to recover with a strong increase of 35.05%. The growth continued with subsequent increases in 2022 (18.11%) and 2023 (11.86%). The compound annual growth rate (CAGR) over the past five years stands at 2.8%. From 2024 onwards, forecasts suggest a reliable upward trend with a 5-year CAGR of 2.3%, resulting in a projected turnover of 6.37 billion euros by 2028.
Future trends to watch for:
- Technological advancements in booking and guest management systems.
- Increased focus on sustainable and eco-friendly hotel practices.
- Post-pandemic travel recovery and shifts in tourist demographics.
- Expansion of luxury and boutique hotel markets.
