Forecast: Number of Employees in Accommodation and Food Services in Austria

The number of employees in the accommodation and food services sector in Austria has shown a consistent growth pattern from 2013 to 2023. The year 2023 recorded 278.4 thousand employees, marking a gradual increase from 232.47 thousand in 2013. The annual year-on-year variations generally indicate positive growth with slight fluctuations, maintaining a steady CAGR from 1.87% in the early years to 1.36% in 2023.

Variations from the last two years follow a trend of modestly decreasing growth rates from 1.34% in 2022 to 1.3% in 2023. This declining rate of increase implies a gradual maturation of the sector.

The forecasted data from 2024 to 2028 suggests a continued, albeit slower, growth. The forecasted 5-year CAGR is projected at 0.93%, reflecting a growth rate of 4.72% over this period.

Future trends to watch for include:

• Potential impacts of economic fluctuations and tourism trends on employment.
• Technological advancements and automation could influence labor needs.
• Government policies and labor laws may affect employment dynamics.