The turnover of event catering in Austria experienced notable fluctuations over the past decade. In 2013, the sector stood at 203.6 million euros and faced a slight decline before seeing a significant upward trend, with a few exceptions. In 2015, there was a sharp rise of 11.3% year-on-year, and in 2018, the sector saw another substantial increase of 15.3%. However, in 2020, the industry faced a significant setback with a 39.48% drop due to the impact of the COVID-19 pandemic. The market bounced back strongly in 2021 with a 37.09% increase, continuing robust growth through 2023 when turnover reached 316.2 million euros, with an 11.77% rise that year. The five-year compound annual growth rate (CAGR) from 2023 is projected to be 1.05%, indicating slower growth moving forward.
Future trends to watch for:
- Economic recovery post-pandemic and its impact on event-related spending.
- The role of digital innovation and hybrid events in shaping the catering industry.
- Changing consumer preferences, with a possible focus on sustainable and locally sourced catering options.
- Regulations and policies that could impact event sizes and frequency.
