The hours worked by employees in the accommodation sector in Chile showed a significant downward trend from 2013 to 2023. Starting at 1.1 million hours in 2013, the number peaked slightly in 2014 with an 11.25% increase, but then saw notable declines, including a drop of 24.29% in 2016. This trend continued with brief fluctuations, such as a 7.8% increase in 2017, only to face another sharp decline in subsequent years. By 2023, the number stood at 549,000 hours, marking a year-on-year decrease of 5.67% and a notable reduction from the previous year's figures.
Over the last five years (2019-2023), the Compound Annual Growth Rate (CAGR) averaged at -3.82%, with the sector experiencing consistent annual reductions in working hours.
Looking ahead to 2028, forecast data indicates a continued decline in hours worked, with a forecasted 5-year CAGR of -5.81% and an expected overall decrease of 25.88% from 2023 levels. The hours worked are anticipated to fall to 381,000 by 2028.
Future trends to watch for:
- Impact of economic recovery measures and tourism growth on accommodation sector employment.
- Technological advancements and automation potentially reducing the need for labor hours.
- Policy changes and labor market reforms affecting worker hours and sector stability.
