The forecasted gross output for the Arts, Entertainment, Recreation, Accommodation, and Food Services sectors in the US shows a steady increase from 2024 to 2028. In 2023, the sector stood at approximately $1.7 trillion. The year-on-year growth varies between 2-3% annually, demonstrating moderate yet consistent growth. The compound annual growth rate (CAGR) over these five years is expected to be around 2.8%.
- 2024: 1.7467 Trillion USD
- 2025: 1.7909 Trillion USD
- 2026: 1.8342 Trillion USD
- 2027: 1.8767 Trillion USD
- 2028: 1.9183 Trillion USD
Future trends to watch for include the impact of economic conditions, technological advancements, and changing consumer preferences. These factors could influence spending in the Arts, Entertainment, Recreation, and Food Services sectors, potentially affecting the forecasted growth trajectory.
