The wages and salaries in the food and beverage service activities in Italy stood at 19.81 billion Euros in 2023. Since 2013, the sector has shown consistent growth, with a noticeable peak in year-on-year variations around 2016-2017. Over the last two years, the sector has stabilized, showing year-on-year growth rates of 2.3% in 2023 and slightly higher rates previously. The CAGR over the last five years stands at 2.53%, indicating a steady but modest growth trajectory.
Looking forward, forecasted data suggests continued growth with an anticipated 8.2% increase by 2028 and a 5-year CAGR of 1.59%. This indicates a deceleration in growth compared to historical figures.
Future trends to watch for:
- Impact of technological advancements in food and beverage service operations.
- Potential labor market changes and their effects on wage growth rates.
- Economic policies and their influence on disposable income and dining out activities.
- Consumer behavior shifts towards sustainability and health-conscious choices.