The production of accommodation and food services in the US was valued at 1.2456 trillion USD in 2023. Based on the forecasted data, this value is expected to increase steadily over the next five years reaching 1.4127 trillion USD by 2028. The year-on-year variation shows a consistent growth ranging from 2.5% to 2.8% annually. The compound annual growth rate (CAGR) over this five-year period is approximately 2.6%.
Future trends to watch for:
• Increasing demand for personalized and experiential services.
• Technological advancements, particularly in digital ordering and delivery services.
• Potential impacts of economic fluctuations and changes in travel patterns.
• Growing emphasis on sustainability and eco-friendly practices within the industry.
