In 2023, the European Accommodation and Food Services sector exhibited mixed growth across countries. Italy led with a robust output of 128.27 billion Euros, reflecting a 1.32% increase from the previous year. France followed at 116.41 billion Euros, marking a 0.28% rise. Germany, however, saw a slight decline of -0.6%, reaching 96.57 billion Euros. Portugal's output increased by 0.79%, totaling 20.03 billion Euros. Smaller markets such as Croatia and Slovenia grew by 1.17% and 1.36%, respectively. Slovakia experienced a -0.79% decrease, while Lithuania emerged as the highest grower with a 7.3% rise, though it had a modest output of 1.8 billion Euros. Latvia's growth was 0.42%, with an output of 1.09 billion Euros. Over the past five years, the Compound Annual Growth Rate (CAGR) has varied widely, indicative of dynamic regional differences.
Future trends to watch include potential disruptions from economic fluctuations, evolving consumer preferences towards sustainable and local cuisines, investments in digital transformation, and regulatory changes related to health and safety standards. Post-pandemic recovery efforts and travel patterns could also significantly influence the sector’s growth across different European countries.
Top countries in Accommodation and Food Services Output by Country
| # | 9 Countries | Million Euros | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 Italy | 128,270 | 2023 | +9.86% | +1.32% | View data |
| 2 | 2 France | 116,410 | 2023 | -13.88% | +0.28% | View data |
| 3 | 3 Germany | 96,570 | 2023 | -14.1% | -0.6% | View data |
| 4 | 4 Portugal | 20,030 | 2023 | -20.38% | +0.79% | View data |
| 5 | 5 Croatia | 5,320 | 2023 | -22.12% | +1.17% | View data |
| 6 | 6 Slovenia | 2,240 | 2023 | -19.13% | +1.36% | View data |
| 7 | 7 Slovakia | 2,220 | 2023 | -5.24% | -0.79% | View data |
| 8 | 8 Lithuania | 1,800 | 2023 | -9.44% | +7.3% | View data |
| 9 | 9 Latvia | 1,090 | 2023 | -17.57% | +0.42% | View data |
