Data centers and logistics are the bright spots. With increased reliance on cloud services, online communications and data storage, businesses require robust infrastructure to support operations. Consequently, the data center industry has seen an increase in demand for space, leading to the expansion and construction of new facilities to meet growing business needs.
The pandemic also accelerated the growth of e-commerce, resulting in increased demand for logistics and warehouses. With a shift in consumer behavior toward online shopping, retailers and logistics providers have had to adapt their supply chains to meet the growing demand for home delivery, driving the need for warehouses and distribution centers. strategically located to efficiently handle inventory management, order fulfillment and ultimate delivery. -mile delivery. While this trend has since moderated, the shift from just-in-time inventory management towards holding larger stocks as protection against future supply chain disruptions will also benefit the logistics sector, albeit in very specific locations. . The call could be made for the industrial real estate sector in general, but the elements available for evaluation are relatively limited. Europe has understood that it needs more factories as a strategy to face economic challenges while aligning with ecological objectives. Strengthening industries will improve competitiveness, generate jobs and drive economic growth, while incorporating sustainable practices.
Hotels are recovering from the impact of the pandemic and retail will remain the most fragile. Before the pandemic, hotels experienced a period of strong growth and prosperity: even major eurozone cities saw an increase in hotel construction (or reuse) and occupancy rates remained consistently high even with the rise of others. competitors (e.g. Airbnb). Following the dramatic drop in tourism during the pandemic, occupancy has been gradually recovering, especially in Spain and France (Figure 8), and the outlook remains positive as the sector adapts to technological change and evolving preferences. of travelers. In contrast, the retail sector may never recover from the e-commerce boom, as especially young consumers have shifted their spending patterns toward online shopping (Figure 9).