The employment trend in Belgium's Accommodation and Food Services Sector reveals steady growth from 2013 to 2019, peaking at 126.6 thousand employees just before the pandemic. The sector faced a significant decline in 2020 and 2021, but rebounded sharply in 2022 to 129.7 thousand employees. However, it saw a slight decrease in 2023, standing at around 124.3 thousand employees. The 5-year CAGR leading to 2023 is modest at 0.064%. Looking ahead, the forecast indicates gradual growth with a projected 5-year CAGR of 0.37%, aiming to reach 127.2 thousand employees by 2028.
Future trends to watch for include:
- The impact of continued economic recovery post-pandemic.
- Adoption of digital and automation technologies in the sector.
- Customer demand shifts towards sustainable and health-conscious offerings.
- Policy changes affecting labor regulations and tourism incentives.
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