The turnover of accommodation and food services in Austria has shown substantial growth from 2013 to 2023, peaking at 26.74 billion euros in 2023. During this period, significant year-on-year variations were observed, such as the sharp decline of -26.7% in 2020 due to the pandemic, followed by strong recoveries in subsequent years, including a 24.86% increase in 2021 and 14.81% in 2022. The compound annual growth rate (CAGR) over the last five years reflects a robust positive trend at 3.99%.
Future trends indicate continued growth, with forecasted values reaching 32.68 billion euros by 2028. The forecasted CAGR for the next five years is projected to be 3.17%, suggesting steady expansion.
Key future trends to watch for include:
- Increased digitalization in booking and service processes.
- A shift towards sustainable and eco-friendly practices in the industry.
- Potential impacts from global economic fluctuations and travel restrictions.
