The Value Added of Accommodation and Food Services in Denmark has shown a mixed trend from 2013 to 2023. From 2013 to 2019, the sector experienced consistent growth with an overall increase. The year 2020 was a significant outlier due to a 42.47% drop, largely attributed to the COVID-19 pandemic. However, the sector rebounded by 2021 with a remarkable 64.91% recovery rate and continued to grow steadily thereafter. As of 2023, the value stood at 37.19 billion Danish Krones, reflecting a 2.38% year-on-year increase.
Looking ahead, the forecasted data suggests a continued upward trend with an average annual growth rate (CAGR) of 1.84% from 2024 to 2028, and a total growth rate of 9.54%, reaching 41.5 billion Danish Krones by 2028. Future trends to watch include the impact of potential economic fluctuations, changes in consumer behavior, sustainable tourism practices, and technological advancements in service delivery.
