The production of accommodation and food services in Sweden has shown steady growth from 2013 to 2019, followed by a dramatic decline in 2020 due to the pandemic, dropping by 42.31%. The sector rebounded sharply in 2021 with a 65.51% increase, continuing to recover through 2022 and 2023. In 2023, the industry stood at 201.44 Billion Swedish Kronas with a year-on-year variation of 2.71%. The compound average growth rate (CAGR) over the last five years was 2.92%, reflecting the recovery momentum post-pandemic.
Going forward, the forecast from 2024 to 2028 suggests continued growth in the sector, with an expected CAGR of 2.06% over this period. By 2028, the production is expected to reach 228.04 Billion Swedish Kronas, representing a 10.74% increase over five years.
Future trends to watch for include the potential impact of economic fluctuations on consumer spending, advancements in food technology and sustainability practices, and changes in travel and tourism patterns that could influence the demand for accommodation and food services.
