The production of accommodation and food services in Italy has witnessed various fluctuations over the years. Starting at €99.39 billion in 2013, it saw consistent growth until 2019, peaking at €122.48 billion. The COVID-19 pandemic significantly impacted the industry in 2020, with a sharp decline to €103.47 billion. However, the sector rebounded rapidly, reaching €120.78 billion in 2021 and €129.56 billion in 2022. By 2023, the value stood at €131.93 billion. Over the last five years, the industry has seen an average annual growth (CAGR) of 1.9%.
Future forecasts predict a gradual, steady increase, reaching €143.95 billion by 2028, with a 5-year CAGR of 1.43%. The projected growth rate over the next five years is 7.36%.
Future trends to watch for include:
- Technological advancements such as AI and digital transformation in the foodservice industry.
- Increasing demand for sustainable and locally sourced food.
- Growth in tourism and travel, which will likely boost the accommodation sector.
- Changes in consumer behavior towards health-conscious dining and personalized experiences.
