From 2013 to 2023, Chile's accommodation and food services sector showed fluctuations in employee numbers, starting with a low in 2013 and experiencing periods of growth and slight declines. In 2023, employment stood at 263.8 thousand persons. Notable variations include a significant year-on-year growth of 9.59% in 2015 and a steady increase from 2018 to 2023. Over the last five years, the Compound Annual Growth Rate (CAGR) averaged 0.84% from 2018 to 2023. Forecasts indicate the sector will continue growing at a 0.73% annual rate, reaching approximately 276.2 thousand employees by 2028, reflecting a 3.68% growth over five years.
Future Trends to Watch For:
- Technological advancements in service delivery and customer interactions.
- Impact of global tourism trends and economic shifts.
- Potential labor market changes due to economic policies and workforce dynamics.
- Environmental sustainability practices influencing operational models.