European Number of Young High Growth Enterprises (Gazelles) in Hotels by Country

In 2023, Italy led the European landscape with 66 young high-growth enterprises, followed by Portugal with 39, and Hungary with 17. Italy and Portugal witnessed moderate growth, with year-on-year increases of 5.71% and 10.2% respectively. Hungary's enterprises grew by 9.1% while the Czech Republic saw a slight decline by 3.81%. Notably, Romania posted the highest growth with 13.18%. Meanwhile, Lithuania expanded substantially at 14.87%, but Slovakia, Latvia, and Norway showed minimal or negative growth. Latvia and Norway contracted significantly at -19.73% and -12.94% respectively.

Looking ahead, there is potential for expansion in the hospitality sector in emerging markets like Romania and Lithuania. Countries with declining numbers, like Latvia and Norway, may need strategic intervention to stimulate enterprise growth. Observing government policies and market conditions will be crucial to anticipate changes in the number of gazelles across Europe.