In 2023, France led European labor costs in the accommodation and food services sector with 21.27 million euros, followed by Germany with 19.92 million and Italy with 17.85 million. Smaller markets like Estonia and Latvia showed significantly lower values, partly due to their smaller economies. Year-on-year growth indicates that Greece and Ireland saw a 3% increase, signaling potential shifts in competitiveness or labor demand. Aside from Slovakia's notable 4.5% growth, variations remained below 3.1% for most countries. This suggests stable but modest growth in labor costs across Europe, with moderate compound annual growth rates observed over five years.
Future trends to watch include potential impacts from policy changes on labor costs and automation's influence on the labor market. With sustainability and technological adoption increasing, these factors may result in varying labor cost dynamics, particularly in countries with rapidly developing tourism sectors. Additionally, economic conditions, such as inflation and wage negotiations, will likely influence changes in labor costs in this sector throughout Europe.
Top countries in Labour Costs in Accommodation and Food Services Share by Country (Million Euros)
| # | 10 Countries | Percent | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 France | 21.27 | 2023 | +2.04% | +1.99% | View data |
| 2 | 2 Germany | 19.92 | 2023 | +2.48% | +2.99% | View data |
| 3 | 3 Italy | 17.85 | 2023 | +2.37% | +2.56% | View data |
| 4 | 4 Spain | 17.8 | 2023 | +1.97% | +1.87% | View data |
| 5 | 5 Austria | 4.88 | 2023 | +2.49% | +2.47% | View data |
| 6 | 6 Netherlands | 4.38 | 2023 | +2.37% | +2.2% | View data |
| 7 | 7 Portugal | 2.89 | 2023 | +2.43% | +2.11% | View data |
| 8 | 8 Belgium | 2.86 | 2023 | +2.51% | +3.01% | View data |
| 9 | 9 Ireland | 2.36 | 2023 | +2.71% | +3.05% | View data |
| 10 | 10 Greece | 2.28 | 2023 | +2.4% | +3.08% | View data |
