Restaurants show growth in revenue and employees

A total of 2,265 restaurants, eating and drinking places and cooked-food stalls in municipal markets were operating in 2016, down by 19 year-on- year, according to a “survey on restaurants and similar establishments” released by the Statistics and Census Service. The number of restaurants and similar establishments recorded a decline for the first time since 2012.

According to the survey, the total number of persons engaged in the food and beverage industry increased by 85 to 32,398 in 2016. Revenues of the industry amounted to MOP10.69 billion, up by 6.5 percent year- on-year. Expenditure grew by 5.2 percent to MOP10.46 billion.  Gross Value Added, which measures the sectorial contribution to the economy, went up by 13 percent year- on-year to MOP4.03 billion. Regarding expenses, the purchase of goods (MOP3.83 billion), compensation of employees (MOP3.77 billion) and operating expenses (MOP2.83 billion) rose by 2 percent, 9.8 percent and 3.6 percent respectively year-on-year. Operating expenses were mainly incurred on rent of establishments (41.8 percent of total), down marginally by 0.5 percent year-on-year to MOP1.18 billion, followed by those on electricity charges at MOP362 million, up by 7.1 percent.

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