The production in Belgium's Accommodation and Food Service Activities sector showed notable growth from 2013 to 2018, peaking at €15.83 billion in 2018. A decline was observed in 2019, worsened by a significant drop in 2020 due to external factors, resulting in a €11.09 billion low. Recovery began in 2021 with a 19.98% increase, continuing to 2023, where production reached €16.0 billion. The projected data from 2024 predicts a gradual increase to €17.87 billion by 2028, exhibiting a 1.76% average annual growth rate over the five-year forecast period.
Key future trends to watch for include:
- The impact of digital transformation on service delivery.
- Changes in consumer behavior post-pandemic, impacting spending in accommodation and food services.
- Sustainability and green initiatives influencing operations and consumer appeal.
- The influence of global economic conditions and potential market volatility.