The gross investment in the event catering sector in Spain has shown a general decline over the past years, starting from 51.1 million euros in 2016 to 34.8 million euros in 2023. A closer look indicates significant year-on-year variations such as a 21.89% decrease in 2019 and a notable recovery in 2020 with a 30.97% increase. However, the trend reverted to declines from 2021 onward, with 2023 reaching almost a 3.06% drop. The Compound Annual Growth Rate (CAGR) over the last five years projects an average annual decline of 7.8%.
Future Trends to Watch For:
The forecast suggests a continued modest decline in investment, with the sector expected to drop to 31.8 million euros by 2028, exhibiting a forecasted CAGR of -1.27% over the next five years. Factors to watch include potential recovery post-pandemic, economic conditions, and shifts in consumer behavior towards event services.
