Forecast: Household Expenditure on Restaurants and Hotels in the Netherlands

From 2013 to 2019, household expenditure on restaurants and hotels in the Netherlands showed a consistent upward trend, with an average annual growth rate ranging from 1.32% to 8.48%. However, 2020 saw a dramatic decline of 34.15%, largely due to the COVID-19 pandemic. This was followed by a partial recovery in 2021 with a 13.55% increase, and an exceptional surge of 59.85% in 2022. The expenditure in 2023 stood at 29.79 billion euros, reflecting a 19.85% decline from the previous year. The five-year CAGR leading to 2023 was modest at 0.44%, reflecting the economic volatility during this period.

Looking forward from 2024, forecasts suggest a gradual stabilization with a five-year CAGR of 1.48%, indicating cautious but steady growth. By 2028, expenditure is projected to grow by approximately 7.63% from 2023 levels, reaching 32.71 billion euros.

Future trends to watch for include:

- The ongoing economic recovery post-pandemic and consumer confidence.

- Trends in home delivery and digital transformations in the hospitality sector.

- Inflationary pressures and labor costs affecting pricing and consumer spending habits.