The forecast for self-employed individuals in the UK's accommodation and food services sector shows a slowly declining trend from 2024 to 2028. In 2023, this sector stood at 146.50 thousand persons. From 2024 onwards, the projected figures show a small but consistent decrease, reflecting declines in self-employment. The 2024-2025 period alone sees a marginal drop, with similar trends projected in the following years. The compound annual growth rate (CAGR) indicates a very slight negative growth when analyzed over a five-year horizon.
Future trends to watch for include potential impacts of economic policies, changes in consumer behavior toward dining and travel, and technological advancements in service delivery, which could influence both the demand for and modes of self-employment in the sector.
- Small yearly reductions reflect stability but indicate a shift that could signify broader industry changes.
- External economic and regulatory factors could significantly affect future self-employment rates in this sector.
