In 2024, sales in Japan's Accommodations, Eating and Drinking Services sector, specifically for businesses with 10-29 persons, are projected at 8.6396 trillion yen, rising to 9.0541 trillion yen by 2028. From 2024-2028, the industry is expected to witness a steady annual growth rate typically reflecting a compound annual growth rate (CAGR) of approximately 1.2%. Year-on-year growth shows an average increase of 1.8% - 2.3% during this period.
Future trends to watch for:
- Increased demand for travel and dining as tourism rebounds.
- Potential impact of technological advancements in service delivery.
- Adaptation to changing consumer preferences and sustainability practices.
- Economic policies affecting disposable income and spending habits.
