In 2023, the number of enterprises in the Accommodation and Food Services sector in the UK stood at 165.02 thousand. The forecasted data from 2024 to 2028 suggests a steady growth in this sector. The year-on-year increases are consistent, indicating an approximate growth of 1% annually. Over the five-year period, this steady growth reflects a Compound Annual Growth Rate (CAGR) of around 1.13%.
Future trends to watch for:
- Impact of technological advancements, such as digital transformation and automation, on operational efficiencies.
- The shift in consumer preferences towards sustainable and locally sourced food and its effect on enterprise operations.
- Regulatory changes post-Brexit impacting the labor market and supply chain dynamics within the industry.
