The Accommodation and Food Services sector in France showed gradual growth from 2013 to 2019, with a significant dip in 2020 due to the pandemic (5.65% decline). Recovery started in 2021 with a 3.34% increase, peaking with a sharp rise of 9.98% in 2022. The sector stood at 1,180,000 employees in 2023, with a 1.56% year-on-year growth. The CAGR over the last five years is 1.93%. Forecasted data from 2024-2028 suggests an annual growth rate of 1.16%, expecting a total growth of 5.95% by 2028.
Future trends to watch for:
- Post-pandemic recovery in tourism influencing employment growth.
- Potential impacts of economic policies on the sector.
- Technological advancements and automation affecting labor demand.
- Global economic conditions impacting international tourism and hospitality.
