Household expenditure on restaurants and hotels in Germany showed a steady increase from 2013 to 2019, with year-on-year variations ranging from 1.63% to 5.37%. The COVID-19 pandemic led to a sharp decline in 2020, showing a significant drop of 33.25%. A gradual recovery began in 2021 with a 3.78% increase, peaking dramatically in 2022 at 53.54%. However, 2023 saw a decline of 14.09%, with expenditure standing at 86.79 billion euros. The forecast from 2024 to 2028 predicts a slow but steady recovery, with a five-year CAGR of 1.01% and a total growth rate of 5.16% by 2028.
Future trends to watch for include:
- Post-pandemic recovery patterns and their impact on household spending behaviors.
- The influence of economic conditions such as inflation and employment rates on disposable income.
- Technological advancements in the hospitality industry, including increased use of digital services and delivery options, which could alter traditional spending habits.
- Changes in consumer preferences towards sustainable and health-conscious dining and lodging options.