The value added of Accommodation and Food Services in the US is projected to grow steadily from 2024 to 2028, starting at $667.17 billion and reaching $737.65 billion. In 2023, this sector recorded a value of approximately $650 billion, indicating positive growth for the coming years. The year-on-year growth from 2024 to 2025 is expected to be around 2.72%, with a consistent increase each subsequent year. This represents a compound annual growth rate (CAGR) of approximately 2.5% over this period.
Future trends to watch for in this sector may include the impact of technological advancements, changes in consumer preferences, and potential regulatory changes impacting the labor force or food safety standards, which could affect the industry's value added growth trajectory.
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