The turnover of Accommodation and Food Services in Belgium displayed significant growth from 2013 to 2019, peaking at 18.77 billion euros. The sector was notably impacted by the COVID-19 pandemic in 2020, causing a sharp decline to 11.5 billion euros. However, recovery was robust, with a notable increase in turnover reaching 20.2 billion euros in 2023. The year-on-year variation for 2023 was 12.89%, while the compound annual growth rate (CAGR) from 2018 to 2023 stood at 4.22%. Forecasts indicate continued growth, reaching 24.11 billion euros by 2028, driven by a 5-year CAGR of 2.8%.

Future trends to watch for:

Technological integration and digitalization in service delivery.
Consumer preference shifts toward sustainable and locally-sourced products.
Potential disruptions or opportunities arising from geopolitical and economic changes.