Forecast: Turnover of Accommodation and Food Services in Germany

The turnover of accommodation and food services in Germany has experienced significant fluctuations over the past decade. Following a steady increase from 2013, reaching 107.7 billion Euros in 2019, the sector faced a dramatic downturn in 2020 due to the pandemic, dropping to 62.04 billion Euros. Recovery was strong, with a remarkable rise to 88.57 billion Euros in 2021 and continued growth to 123.1 billion Euros by 2023. The sector's Compound Annual Growth Rate (CAGR) is 3.67% for 2023, indicating consistent recovery and development.

From 2024 to 2028, the forecasted turnover continues to ascend, reaching 148.93 billion Euros by 2028, with a forecasted 5-year CAGR of 3.02%. Though less volatile, the increase reflects sustained growth and stability in the industry.

Future trends to watch for:

• Technological advancements in booking and food service management.
• Adoption of sustainable practices and eco-friendly operations.
• Changes in consumer behavior and preferences post-pandemic.
• Impact of economic policies and global economic conditions on disposable income and tourism.