The employment in the Food and Beverage Service Activities sector in Austria has demonstrated a mix of steady growth and fluctuations over the past decade. From 2013 to 2019, there was a consistent annual increase with a strong year-on-year percentage around 1.75% to 3.82%, reflecting optimism and expansion in the sector. However, the major downturn in 2020, with an 18.44% decline, was a significant deviation caused mainly by the global pandemic.
Post-2020, the sector showed robust recovery signs with a 13.97% rise in 2021, followed by further growth leading up to 114.63 thousand full-time equivalents (FTEs) in 2022, and a 5.79% year-on-year increase in 2023 standing at 121.26 thousand FTEs. The Compound Annual Growth Rate (CAGR) over the last five years up to 2023 is 1.49%, indicating a positive but moderating growth trend.
Looking forward, the forecast indicates employment will continue to grow, albeit at a slower 5-year CAGR of 1.37%, reaching approximately 132.15 thousand FTEs by 2028, which represents a total growth rate of 7.02% from 2023. The ongoing recovery and future expansion highlight the sector's resilience and potential steady demand.
Future trends to watch for include the adoption of technological innovations in food services, shifts in consumer preferences towards healthy and sustainable options, and ongoing impacts from global economic conditions. Monitoring these trends will provide further insights into employment fluctuations and sector health.
