The Accommodation and Food Services Sector in the UK depicts steady growth with employee figures expected to increase from 2.18 million in 2024 to 2.3 million by 2028. In 2023, the sector employed approximately 2.15 million people. Year-on-year growth is relatively consistent at around 1.37% over the forecast period, reflecting a stable expansion environment. The five-year compound annual growth rate (CAGR) from 2024 to 2028 stands at about 1.36%, indicating gradual and sustainable growth.
Future trends to watch for include:
- Impact of technological advancements and automation on employment levels.
- Potential changes in consumer behavior and dining trends post-pandemic.
- Regulatory influences from the UK government on employment practices.
- Brexit-related impacts on the labor market and workforce availability.
