In 2023, the wages and salaries for event catering and other food service activities in the UK registered a notable value, forming the baseline for future growth. From 2024 onwards, this sector is forecast to see steady growth, with values increasing from 5.05 billion Euros in 2024 to 5.31 billion Euros in 2028. This represents an average Compound Annual Growth Rate (CAGR) of approximately 1.3% over the five-year period.
Future trends to watch for:
- Impact of inflation on real wage growth and cost of living.
- Technology-driven efficiencies reducing labor costs.
- Changes in consumer behavior potentially affecting service demand.
- Regulatory changes affecting labor practices and costs.
