The production value of accommodation services in Belgium showed a steady growth from 2013 to 2019, with the value peaking at 3.01 billion Euros in 2019. However, 2020 saw a drastic decline of 43.68% due to the impact of the COVID-19 pandemic. Recovery began in 2021 with a 41.95% increase, followed by a significant rise in 2022, reaching 2.95 billion Euros. By 2023, the production value stood at 3.38 billion Euros, reflecting a 14.7% year-on-year growth. The average annual growth rate (CAGR) over the past five years was 3.8%, demonstrating a resilient recovery trajectory.
Looking ahead, the forecast for 2024 to 2028 anticipates continued growth in accommodation services. By 2028, the production value is expected to reach 4.12 billion Euros, fueled by a five-year CAGR of 3.11%. Future trends to watch include changes in tourism patterns, the impact of sustainable tourism practices, and the integration of digital transformation in the accommodation industry.