The data from 2024 reveal a varied landscape of European household expenditure on accommodation services as a percentage of GDP. Croatia led with a significant 5.7%, while countries like Finland, Luxembourg, and Slovakia showed the lowest at 0.3%. Over the past year, countries like Macedonia, Spain, Sweden, and Norway recorded positive variations, highlighting an increase in expenditure, while Luxembourg, Romania, Lithuania, and Cyprus exhibited the most significant drops.
Observing a longer period, Croatia, and Cyprus historically maintained higher expenditure, though recent declines suggest economic shifts. On the other hand, some stable economies like Germany and Poland showed negligible variation, indicating steadiness in their accommodation expenditure patterns. Moldova's and Spain's noticeable positive trends highlight growing housing markets potentially benefiting from tourism and economic reforms.
Future trends to watch for include possible economic recovery in countries with significant declines, driven by a rebound in tourism and hospitality sectors. Increased investment in housing infrastructure and regulatory changes will be significant determinants in shaping the household expenditure patterns in the coming years across Europe.
Top countries in Household Expenditure on Accommodation Services by Country
| # | 10 Countries | Percent of GDP | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 Croatia | 5.7 | 2023 | -9.52% | -2.89% | View data |
| 2 | 2 Cyprus | 4.3 | 2023 | -14% | -6.13% | View data |
| 3 | 3 Malta | 3.2 | 2023 | -13.51% | -8.54% | View data |
| 4 | 4 Portugal | 2.8 | 2023 | -9.68% | -0.7% | View data |
| 5 | 5 Greece | 2.5 | 2023 | -10.71% | -4.82% | View data |
| 6 | 6 Iceland | 2.1 | 2023 | 0% | -1.8% | View data |
| 7 | 7 Bosnia and Herzegovina | 2 | 2023 | -4.76% | -2.76% | View data |
| 8 | 8 Macedonia | 1.9 | 2023 | +5.56% | +3.5% | View data |
| 9 | 9 Austria | 1.4 | 2023 | -17.65% | -1.37% | View data |
| 10 | 10 Bulgaria | 1.4 | 2023 | -12.5% | -2.64% | View data |
