In 2023, the contribution of Wholesale, Retail Trade, Restaurants, and Hotels to the US GDP was approximately 14.80%. Forecasted figures indicate a steady contribution slightly increasing from 14.82% in 2024 to 14.84% by 2028. This represents a stagnant year-on-year growth with an approximate compound annual growth rate (CAGR) close to zero over this period.
Future trends to monitor include:
- The impact of consumer behavior shifts towards online shopping on retail trade.
- Economic conditions affecting discretionary spending on dining and travel.
- Technological and automation advancements in the wholesale and retail sectors.
- Policy changes regarding trade and tourism that could alter these industries' contributions to GDP.
