In the Accommodation and Food Service Activities sector in Germany, actual employment data shows significant fluctuations over the past decade. After an initial decline in 2013, the sector experienced a robust recovery and steady growth rate up until 2017, followed by a slight dip in 2018. The sector's employment was severely impacted in 2020 due to the pandemic, cutting employment by almost a quarter. However, the recovery was swift, with an impressive rebound in 2021 and consistent growth in subsequent years. By 2023, employment stood at 1.6651 million FTEs, growing approximately 7.86% year-on-year from 2022.
Looking at the forecasts, the sector is poised to grow steadily from 2024 to 2028, with an average CAGR of around 1.77% over the next five years, indicating a promising recovery and growth trajectory.
Future trends to watch for:
- The integration of technology within accommodation and food services to improve efficiency and customer satisfaction.
- The potential impact of economic uncertainties and any further health crises on sector employment.
- Changes in consumer preferences towards sustainability and eco-friendliness in service provisioning.
