In Spain, the wages and salaries in the food and beverage services sector have experienced significant fluctuations over the years. In 2023, the sector stood at 16.73 billion Euros. Notable growth was observed from 2015 to 2019, followed by a sharp decline in 2020 due to unforeseen circumstances, plummeting by 34.41%. However, the sector showed resilience with a robust recovery from 2021 onwards, highlighted by a 34.98% increase in 2021 and a 13.88% increase in 2023. The compound annual growth rate (CAGR) over the last five years was 5.41%, indicative of a steady upward trend post-recovery.
Future trends to watch for include continued growth driven by economic recovery and increasing consumer demand. The sector is forecasted to grow at a CAGR of 3.86% over the next five years, reaching 21.36 billion Euros by 2028. Ongoing investment in food and beverage innovation and the evolution of consumer preferences towards higher-quality and experience-based dining will likely propel this growth trajectory.
