The European Accommodation and Food Services sector exhibits significant variance by country. In 2023, Spain led in gross value at €58.71 billion, despite a 3.25% decline. Belgium and Ireland followed, with Belgium experiencing negligible change and Ireland seeing a 1.22% increase. The most notable growth occurred in Malta and Lithuania, with increases of 4.66% and 3.96%, respectively. Conversely, Slovakia recorded a sharp decline of 3.79%, while Latvia observed a slight decrease of 0.4%.
Future trends to watch include potential growth shifts in emerging markets and technological integration within traditional hospitality frameworks. Monitoring economic recovery and consumer behavior post-pandemic will be critical in understanding future dynamics.
Top countries in Accommodation and Food Services Gross Value Added by Country
| # | 10 Countries | Million Euros | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 Spain | 58,710 | 2023 | -17.78% | -3.25% | View data |
| 2 | 2 Belgium | 7,880 | 2023 | -10.57% | -0.01% | View data |
| 3 | 3 Ireland | 5,690 | 2023 | +13.82% | +1.22% | View data |
| 4 | 4 Croatia | 2,840 | 2023 | -22.68% | +0.68% | View data |
| 5 | 5 Cyprus | 1,490 | 2023 | +11.65% | +1.46% | View data |
| 6 | 6 Slovakia | 1,100 | 2023 | +1.32% | -3.79% | View data |
| 7 | 7 Slovenia | 1,040 | 2023 | -16.67% | +1.07% | View data |
| 8 | 8 Lithuania | 899.45 | 2023 | -13.36% | +3.96% | View data |
| 9 | 9 Malta | 765.01 | 2023 | +25.25% | +4.66% | View data |
| 10 | 10 Latvia | 498.11 | 2023 | -19% | -0.4% | View data |
