The European Accommodation and Food Services sector experienced diverse performances across different countries in 2023. The United Kingdom led with the highest output of €126.08 billion, showing a moderate increase of 1.64% year-on-year. France and Italy followed, though Italy saw a decline of 1.3%. Notably, Spain and Germany, traditional strongholds, contracted by 3.03% and 0.58% respectively. Among smaller economies, Lithuania (7.3%), Ireland (10.18%), and Serbia (10.17%) displayed significant growth. The sector in countries like Italy, Spain, and Greece displayed a downward trend, which could be attributed to post-pandemic recovery challenges or shifting tourism patterns.
Future trends to watch include the impacts of economic recovery in tourism-heavy nations, increased digitalization in hospitality services, and the potential effects of geopolitical tensions on tourism. Adapting to changing consumer preferences, enhancing sustainable practices, and leveraging new technologies will be crucial for continued growth in this sector.
Top countries in Accommodation and Food Services Output by Country
| # | 10 Countries | Million Euros | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 United Kingdom | 126,080 | 2023 | +1.43% | +1.64% | View data |
| 2 | 2 France | 118,140 | 2023 | -12.6% | +0.58% | View data |
| 3 | 3 Italy | 112,520 | 2023 | -9.7% | -1.3% | View data |
| 4 | 4 Spain | 106,660 | 2023 | -13.19% | -3.03% | View data |
| 5 | 5 Germany | 96,650 | 2023 | -14.03% | -0.58% | View data |
| 6 | 6 Netherlands | 29,790 | 2023 | -20.29% | -0.038% | View data |
| 7 | 7 Austria | 27,500 | 2023 | -12.27% | -0.85% | View data |
| 8 | 8 Switzerland | 22,630 | 2023 | -11.39% | -0.49% | View data |
| 9 | 9 Portugal | 19,750 | 2023 | -21.51% | +0.5% | View data |
| 10 | 10 Greece | 19,410 | 2023 | -17.94% | -2.42% | View data |
