Forecast: Value Added by Wholesale, Retail Trade, Restaurants and Hotels in Austria

The value added by wholesale, retail trade, restaurants, and hotels in Austria exhibited fluctuations from 2013 to 2023. 2013 saw a value of 66.245 billion USD, increasing moderately to 68.654 billion USD in 2014. However, a significant drop occurred in 2015 to 59.967 billion USD. A gradual recovery followed, with values peaking at 68.917 billion USD in 2028 based on forecasts. The COVID-19 pandemic severely impacted the sector in 2020, with a notable decline to 53.458 billion USD. Post-pandemic recovery was steady, reaching 66.074 billion USD in 2023.

Year-on-year variations for 2022 and 2023 are modest at 0.85% and 0.83% respectively. The compound annual growth rate (CAGR) over the last five years stands at a conservative 0.88%. Future projections indicate continued gradual growth, with a forecasted 5-year CAGR of 0.66%, amounting to a total growth rate of 3.37% by 2028.

Future trends to watch for include the resilience of the hospitality sector post-COVID, shifts in consumer behavior towards e-commerce, and potential economic impacts from geopolitical and global economic changes. Monitoring these factors will be crucial for strategic decision-making in the sector.