Restaurant revenues rise 3.4% in 2024, losses narrow

The city’s restaurant and similar establishments saw modest growth in 2024, according to data from the Statistics and Census Service (DSEC).

Total receipts for the sector increased by 3.4% year-on-year to MOP15.05 billion, while expenditure rose by 3.1% to MOP15.10 billion. Although the industry continued to operate at a loss, the deficit narrowed compared with 2023.

Restaurants and eating and drinking places with dine-in service generated MOP12.75 billion in receipts, up 3.4% from the previous year.

Growth was led by Chinese restaurants, which rose 2.8%, and local-style cafés, congee and noodle shops, which grew 6.9%. Expenditure for these establishments rose 3.8% to MOP12.68 billion, resulting in a gross surplus of MOP89.23 million for 2024.

Takeaway shops without dine-in service recorded receipts of MOP2.25 billion, up 2.7%, while expenditure edged down 0.4% to MOP2.40 billion. The sector continued to register a loss, totalling MOP149 million, though the deficit was smaller than in 2023.

Cooked-food stalls in municipal markets experienced strong growth, with receipts up 10% to MOP46.86 million and expenditure rising 17.9% to MOP26.88 million, generating a gross surplus of MOP19.98 million.

The survey covers 4,930 licensed establishments, including 2,470 dine-in restaurants, 2,380 takeaway shops, and 80 municipal market cooked-food stalls. Excluded from the survey are restaurants operated by hotels and gaming enterprises, as well as street stalls.

Earlier this year, Aeson Lei, president of the Macau Catering Industry Association, told the Times that Macau is likely to face challenges in offsetting the resulting decline in local consumer spending in the short term.

The F&B representative attributed this trend to the increasing willingness of Macau residents to head “north” to mainland China for their consumption.

“While the government has implemented various measures, like consumer promotion campaigns, which have somewhat boosted market consumption, particularly in the catering industry, the current economic environment is declining. This issue isn’t exclusive to Macau; many other regions are also experiencing a drop in consumer spending,” Lei said in a previous interview with the Times.