The accommodation and food services sector in Italy showed a steady growth from 2013 to 2019, with a peak at 122.48 billion euros in 2019. However, the pandemic resulted in a significant drop of 34.41% in 2020. The sector began to recover in 2021 with a 25% increase and continued its upward trend into 2023, standing at 128.27 billion euros. Over the last two years, the sector experienced a year-on-year growth of 16.28% in 2022 and 9.86% in 2023, while maintaining a 1.32% CAGR over the past five years.
The forecasted growth remains positive, with an average annual increase of 1.64% and an expected growth rate of 8.48% over the next five years. Future trends to watch include the impact of sustainable tourism, the increasing digitalization of the sector, and potential economic fluctuations affecting travel and dining behaviors.
