In 2023, Hungary led with 29.51% of high-growth enterprises in Accommodation and Food Services in Europe, followed by Italy with 27.43%. The Czech Republic and Portugal trailed with a share of 11.18% and 10.94%, respectively. Other countries, like Romania and Lithuania, had shares under 8%. Year-on-year growth showed notable increases in Hungary (20.87%) and Romania (9.47%), while Portugal experienced a decline of 5.51%. Despite minor changes in countries like Slovakia and Latvia, a solid year-on-year variation marks a dynamic sector.
Future trends to watch include an increasing digital transformation in the accommodation and food services sectors, emerging sustainability practices, and potential shifts in consumer preferences towards personalized experiences. These influences may enhance growth opportunities, particularly in digitally-forward countries. Monitoring how these factors reshape the landscape will be crucial for addressing market demands and maintaining growth.
Top countries in Number of High Growth Enterprises in Accommodation and Food Services Share by Country (Units (Enterprises))
| # | 9 Countries | Percent | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 Hungary | 29.51 | 2023 | +31.87% | +20.87% | View data |
| 2 | 2 Italy | 27.43 | 2023 | +27.12% | +5.62% | View data |
| 3 | 3 Czech Republic | 11.18 | 2023 | +26.06% | +2.57% | View data |
| 4 | 4 Portugal | 10.94 | 2023 | +11.25% | -5.51% | View data |
| 5 | 5 Romania | 7.92 | 2023 | +26.32% | +9.47% | View data |
| 6 | 6 Lithuania | 6.04 | 2023 | +24.77% | +5.07% | View data |
| 7 | 7 Slovakia | 3.05 | 2023 | +19.82% | +6.03% | View data |
| 8 | 8 Norway | 1.61 | 2023 | +16.13% | +3.37% | View data |
| 9 | 9 Latvia | 1.59 | 2023 | +20.34% | +4.86% | View data |
