The production value of accommodation services in France demonstrated a general upward trend from 2013 to 2023, reaching 31.78 billion euros in 2023. From 2013 to 2019, the market exhibited moderate growth, experiencing only a few minor fluctuations. A significant decline was observed in 2020 due to the pandemic, followed by a strong recovery in subsequent years, particularly notable in 2021 and 2022. The year-on-year growth for 2023 stood at 11.5%, while the compound annual growth rate (CAGR) over the last five years averaged 1.73%.
Looking forward, the production value of accommodation services is forecasted to continue its growth trajectory, with a CAGR of 2.14% over the next five years, culminating in a value of 36.36 billion euros by 2028. This represents an overall growth rate of 11.15% over this period.
Future trends to watch for include:
- Pandemic recovery dynamics and the return to international travel.
- Increasing demand for eco-friendly and sustainable accommodation options.
- Technological innovations in the hospitality sector, including AI-driven personalized services.
- Potential economic fluctuations that could impact discretionary spending on travel.
- Evolving consumer preferences towards experiential travel and boutique accommodations.
