Based on the forecasted data, the hospitality employment in the UK is set to experience a steady increase from 2024 to 2028. As of 2023, the actual employment value stood at 448.55 thousand employees. From 2024 onwards, the values are expected to grow consistently year-on-year; culminating at 490.32 thousand employees by 2028. The year-on-year variations from 2024 through 2028 exhibit a positive annual trend with the following percentage increases:
- 2024-2025: 1.91%
- 2025-2026: 1.84%
- 2026-2027: 1.76%
- 2027-2028: 1.70%
The Compound Annual Growth Rate (CAGR) over the five-year forecasted period is 1.80%, indicating a consistent upward trend in hospitality employment.
Future trends to watch for include the impact of technological advancements, such as automation and AI, on job creation and shifts in required skill sets. Additionally, evolving consumer preferences and potential economic uncertainties post-2023 may influence employment dynamics in the sector.
