From 2013 to 2019, Austria's accommodation and food services sector experienced continuous growth, peaking at 29.87 billion euros in 2019, with an average CAGR of approximately 4.3%. The sector sustained a significant downturn in 2020 and 2021 due to the pandemic, with a notable decrease of nearly 30% in 2020. Recovery began in 2022, seeing a spike of nearly 60%, but the sector declined again by 12.35% in 2023, standing at 27.47 billion euros.

Future trends to watch include:

Modest annual growth projected from 2023 to 2028, with a forecasted 5-year CAGR of 1.15%.
Projected output by 2028 is 29.53 billion euros, reflecting a total growth rate of 5.88% from 2023.
Potential impacts of economic stabilization and evolving consumer behavior on the sector's consistent recovery.