The European Production Value of Accommodation and Food Services in 2023 displayed significant variation across countries. Leading the sector are Germany, France, and the United Kingdom, displaying values of €118.57B, €117.02B, and €115.57B, respectively, and achieving year-on-year growth rates of 2.92%, 2.4%, and 2.24%. Spain and Italy follow, registering values of €93.84B and €93.31B, and growth rates of 4.2% and 1.39%. Notable growth was recorded in Poland (8.71%), Romania (10.11%), and Serbia (20.16%), indicating a robust expansion in Eastern Europe.
Smaller yet significant markets include the Netherlands (€33.97B), Austria (€25.48B), and Switzerland (€24.92B), with growth rates of 3.88%, 3.5%, and 2.86%. The least impactful markets, such as Macedonia (€0.3547B), Bosnia and Herzegovina (€0.9335B), and Serbia (€0.9347B), smaller but gaining relative momentum.
Future trends to watch in the European Production Value of Accommodation and Food Services could pivot on the post-pandemic recovery, increased digitalization of services, and sustainability initiatives driving changes in consumer behavior and operational efficiencies. Growth in Eastern and Southern European markets may continue accelerating, while Western European countries consolidate their leading positions through innovation and cross-border investments.
- Post-pandemic recovery will continue to shape sector dynamics.
- Enhanced digital services may differentiate market leaders.
- Sustainability practices will attract environmentally conscious customers.
- Eastern and Southern Europe may experience faster growth rates.
- Western Europe will likely focus on consolidation and innovation.
Top countries in Production Value of Accommodation and Food Services by Country
| # | 10 Countries | Million Euros | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 Germany | 118,570 | 2023 | +12.65% | +2.92% | View data |
| 2 | 2 France | 117,020 | 2023 | +9.72% | +2.4% | View data |
| 3 | 3 United Kingdom | 115,570 | 2023 | +1.66% | +2.24% | View data |
| 4 | 4 Spain | 93,840 | 2023 | +16.51% | +4.2% | View data |
| 5 | 5 Italy | 93,310 | 2023 | +9.71% | +1.39% | View data |
| 6 | 6 Netherlands | 33,970 | 2023 | +10.75% | +3.88% | View data |
| 7 | 7 Austria | 25,480 | 2023 | +9.72% | +3.5% | View data |
| 8 | 8 Switzerland | 24,920 | 2023 | +8.35% | +2.86% | View data |
| 9 | 9 Sweden | 19,360 | 2023 | +6.98% | +2.5% | View data |
| 10 | 10 Portugal | 19,190 | 2023 | +16.86% | +6.59% | View data |
