The European market for high-growth enterprises in accommodation services showed variability across countries in 2023. Italy led with 720 enterprises, followed by Hungary (408) and Romania (204), whereas Latvia had only 2. Year-on-year variations from 2023 highlighted positive growth in Hungary, Romania, Slovakia, and Italy, with Hungary leading at a rate of 14.76%. Conversely, countries like Portugal and Latvia faced significant declines of 23.67% and 39.16%, respectively. Longer-term trends suggest varied growth, with some markets stabilizing and others experiencing continued expansion or contraction.
Future trends to watch include:
- The potential for continued growth in Hungary and Romania given their robust recent performance.
- Monitoring economic policies and tourism demand which could influence growth positively, particularly in struggling markets like Portugal and Latvia.
- The impact of digital transformation and sustainability initiatives, which may offer new avenues for enterprise growth in accommodation services across Europe.
Top countries in Number of High Growth Enterprises in Accommodation Services by Country
| # | 8 Countries | Units (Enterprises) | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 Italy | 720 | 2023 | +24.78% | +3.41% | View data |
| 2 | 2 Hungary | 408 | 2023 | +32.47% | +14.76% | View data |
| 3 | 3 Romania | 204 | 2023 | +30.77% | +10.65% | View data |
| 4 | 4 Czech Republic | 125 | 2023 | +4.17% | -11.01% | View data |
| 5 | 5 Portugal | 100 | 2023 | -18.7% | -23.67% | View data |
| 6 | 6 Slovakia | 93 | 2023 | +27.4% | +9.9% | View data |
| 7 | 7 Lithuania | 52 | 2023 | +15.56% | +0.39% | View data |
| 8 | 8 Latvia | 2 | 2023 | -71.43% | -39.16% | View data |
