Between 2013 and 2023, the value added by Wholesale, Retail Trade, Restaurants, and Hotels in Senegal showed a positive overall trend, starting at $2.6363 billion in 2013 and reaching $2.5539 billion in 2023. Year-on-year variations fluctuated significantly, with notable declines in 2015 (-19.27%) and 2020 (-3.84%). However, the sector recovered, showing increases of 6.51% in 2021 and modest growth in subsequent years, including 2023 at 1.11%. Over the last 5 years (2018-2023), the compound annual growth rate (CAGR) was 1.19%, indicating moderate yet stable growth.
The forecast from 2024 to 2028 predicts a continued growth trajectory, moving from $2.5847 billion in 2024 to $2.7005 billion in 2028. The 5-year CAGR for this period is anticipated to be 0.88%, with an overall growth rate of 4.48%. These projections suggest steady expansion in the sector.
Future trends to watch for include the impact of digital transformation on retail and hospitality services, government policies aimed at boosting tourism, and potential economic shifts that could affect consumer spending patterns. Monitoring these factors will be crucial for understanding the sector's future performance.