October 5, 1998. Copyright 1998. Graphic News. All rights reserved.

World eating out frenzy


LONDON, October 5, Graphic News: DURING the 1980s and early 1990s, both the number of people visiting restaurants and the frequency of visits has increased strongly, leading to overall growth in expenditure on eating out and an increase in the number of meals consumed. 
Today catering is one of the worldÕs largest consumer markets, led by the U.S. and Japan, each valued at over US$200 billion in 1997, according to a new report by market analysts Euromonitor. In Europe, Spain is the largest market exceeding US$55.4 billion, well ahead of Italy (US$47.2bn), the UK (US$45.2bn) and Germany (US$40.4bn).
Eating out has become a national pastime in Japan where both formal business meetings and workforce get-togethers frequently take place in restaurants. In the U.S. eating out at a fast food or family restaurant can be cheaper than buying the equivalent ingredients in the supermarket.
The lowest level of spending per head was recorded in France where diners have moved away from traditional restaurants towards fast food outlets and cafeterias.

/ENDS
Sources: Euromonitor