Forecast: Production in Accommodation and Food Service Activities Sector in France

The Accommodation and Food Service Activities sector in France has demonstrated significant fluctuations over the last decade. From 2013 to 2019, the sector experienced steady growth, peaking at a substantial year-on-year increase in 2019 of 4.61%. However, the onset of the COVID-19 pandemic in 2020 led to a dramatic decline of 31.21% in value. The sector rebounded quickly, reflected in a 24.61% increase in 2021 and continued strong growth into 2022 and 2023, reaching a value of 117.02 billion Euros in 2023. Over the past five years, the sector has achieved an average annual growth rate (CAGR) of 2.4%.

Looking forward to the forecasted data from 2024 to 2028, the sector is expected to continue its upward trajectory, albeit at a slower pace, with a forecasted five-year CAGR of 2.01%. This suggests that while growth will continue, it may stabilize as the market matures.

Future trends to watch for:

  • Technological advancements and digitalization in service delivery.
  • Impact of sustainability and environmental concerns on operations and consumer preferences.
  • Shifts in consumer behavior post-COVID, emphasizing health, safety, and local experiences.