Turnover in accommodation and food services up by 4.9 percent in Q3 2024
Turnover grew almost twice as much in Q3 as in the previous quarter. In Q2, turnover was 2.7 percent higher than a year earlier. August was very warm, sunny and dry, which was favourable for the accommodation and food services sector in the third quarter.
| % (year-on-year % change) | ||
|---|---|---|
| IV | -52.5 | |
| 2021 | I | -46.2 |
| 2021 | II | 51.8 |
| 2021 | III | 13.8 |
| 2021 | IV | 66.3 |
| 2022 | I | 87.1 |
| 2022 | II | 81.4 |
| 2022 | III | 20.5 |
| 2022 | IV | 46.5 |
| 2023 | I | 37.1 |
| 2023 | II | 10.3 |
| 2023 | III | 6.8 |
| 2023 | IV | 5.9 |
| 2024 | I | 8.1 |
| 2024 | II | 2.7 |
| 2024 | III | 4.9 |
Turnover in accommodation services increased by 5 percent
In Q3 2024, turnover in accommodation services, which includes hotels and holiday parks, increased by 5.0 percent year on year. Hotel turnover was up 4.3 percent on Q3 2023, while holiday rentals and camping sites recorded an increase of 6.3 percent.
Turnover in food and beverage outlets almost 5 percent higher
The turnover of food and beverage outlets increased by 4.9 percent compared with Q3 2023. Canteens and catering again recorded the largest increase in turnover in the accommodation and food services sector, at 7.4 percent. Restaurants and cafés saw their turnover rise by 5.4 and 4.1 percent, respectively. Fast food outlets recorded the smallest increase in turnover at 3.0 percent.
| Compared to Q3 2023 (year-on-year % change) | |
|---|---|
| Accommodation and food services (total) | 4.9 |
| Accommodation services (total) | 5 |
| Other accommodation services | 6.3 |
| Hotels | 4.3 |
| Food and beverages services (total) | 4.9 |
| Canteens and catering | 7.4 |
| Restaurants | 5.4 |
| Cafés | 4.1 |
| Fast-food restaurants | 3 |
Entrepreneurs in the accommodation and food services sector most negative
Around four weeks ago, Statistics Netherlands published new data on business confidence of the Dutch private sector. In the majority of sectors, business confidence was negative at the start of Q4 2024. Entrepreneurs in accommodation and food services were the most negative compared with Q3. The sentiment indicator in this sector also fell by the most of any sector.
Business confidence in the accommodation and food services sector was slightly more negative at the beginning of Q3 than it was at the beginning of Q2 2024.
Confidence stood at -11.3 at the beginning of Q4, compared to -4.7 in Q3. Businesses in this sector were mainly more negative about economic conditions over the past three months, but also about the economic outlook for the next three months.
| Year | Quarter | Confidence |
|---|---|---|
| 2021 | Quarter 1 | -53.1 |
| 2021 | Quarter 2 | -28.8 |
| 2021 | Quarter 3 | 32.8 |
| 2021 | Quarter 4 | 30.1 |
| 2022 | Quarter 1 | -32.5 |
| 2022 | Quarter 2 | 21.2 |
| 2022 | Quarter 3 | 3.3 |
| 2022 | Quarter 4 | -23.4 |
| 2023 | Quarter 1 | -19.5 |
| 2023 | Quarter 2 | -7.7 |
| 2023 | Quarter 3 | -10.8 |
| 2023 | Quarter 4 | -13.1 |
| 2024 | Quarter 1 | -13.5 |
| 2024 | Quarter 2 | -4.6 |
| 2024 | Quarter 3 | -4.7 |
| 2024 | Quarter 4 | -11.3 |
| Source: CBS, EIB, KVK, MKB-Nederland, VNO-NCW | ||
New statistics for the accommodation and food services sector and other services
Due to new European regulations, changes have been made to CBS statistics on the accommodation and food services sector and other business services, among others, with effect from 2024. In addition to turnover (the total value of goods and services supplied), figures on production (volume of added value) are now also available. Furthermore, monthly figures are published for the sectors in addition to quarterly and annual figures. Finally, the base year has been changed from 2015 to 2021.
In the near future, monthly news releases will be published on production in the services sector (including the accommodation and food services sector). The current quarterly reports on the turnover of certain specific sectors (such as accommodation and food services, business services and transport) will be continued.
Due to this change and the transition from quarterly to monthly figures, the period on which the seasonal correction model is based will be too short to produce reliable seasonally adjusted figures. These are expected to be added retroactively from 2021 in the spring of 2025.