In 2024, wages and salaries in Germany's accommodation and food services industry are projected at 33.33 billion euros, marking growth from 2023. By 2028, this figure is expected to reach 38.89 billion euros, indicating a consistent upward trend in this sector. The year-on-year growth from 2024 to 2028 reflects persistent strength in the labor market, driven by factors such as increased demand, inflationary adjustments and sectoral recovery post-pandemic.
Future trends to watch:
- Impact of technological advancements and automation on labor costs.
- Potential labor shortages affecting wage trajectories.
- Regulatory changes influencing wage structures.
- Consumer spending patterns on travel and dining post-economic shifts.
