In 2023, Spain dominated the European Accommodation and Food Services Gross Value Added shares among the listed countries, despite a minor decrease of 3.25%. Belgium and Latvia also saw declines, while Ireland, Croatia, Cyprus, Slovenia, Lithuania, and Malta experienced growth, with Malta leading at 4.66%. Notable is Slovakia's drop of 3.79%. Over the last five years, a trend of varied growth patterns suggests changing dynamics within this sector, influenced by economic conditions and regional developments.
Future trends to watch include:
- The impact of economic recovery strategies on the service sector post-pandemic.
- The role of digital transformation in boosting efficiency and customer experience.
- Pursuing sustainability as a driver of growth in marketplaces shifting towards eco-tourism.
Top countries in Accommodation and Food Services Gross Value Added Share by Country (Million Euros)
| # | 10 Countries | Percent | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 Spain | 72.56 | 2023 | -17.78% | -3.25% | View data |
| 2 | 2 Belgium | 9.74 | 2023 | -10.57% | -0.01% | View data |
| 3 | 3 Ireland | 7.04 | 2023 | +13.82% | +1.22% | View data |
| 4 | 4 Croatia | 3.51 | 2023 | -22.68% | +0.68% | View data |
| 5 | 5 Cyprus | 1.85 | 2023 | +11.65% | +1.46% | View data |
| 6 | 6 Slovakia | 1.35 | 2023 | +1.32% | -3.79% | View data |
| 7 | 7 Slovenia | 1.28 | 2023 | -16.67% | +1.07% | View data |
| 8 | 8 Lithuania | 1.11 | 2023 | -13.36% | +3.96% | View data |
| 9 | 9 Malta | 0.95 | 2023 | +25.25% | +4.66% | View data |
| 10 | 10 Latvia | 0.62 | 2023 | -19% | -0.4% | View data |
