C&W research: sales of Romanian restaurants and cafes to rise by 10% per annum

The sales of restaurants and coffee shops in Romania will rise by some 10% per annum to exceed the EUR 5 billion threshold around 2022-2023, according to a research report by real estate consultancy firm Cushman & Wakefield Echinox.

The rising household incomes and the more intense tourism, on the demand side, as well as the competition resulting in more sophisticated locations, on the supply side, are driving the market up.

"All the 6 analyzed categories registered positive evolutions in the period 2014-2018, the average annual increases ranging between 15.2% in the case of fine dining operators and 32.7% in the case of coffee shops, which demonstrates the predominant increasing trend of the F&B market," said Vlad Saftoiu, research analyst at Cushman & Wakefield Echinox.

The market holds robust growth potential given its low size in Romania’s economy.

According to Eurostat data, the expenditure allocated to hotels, restaurants and bars accounted for only 3.1% of the Romanian households’ total consumption expenditure in 2018, compared with an average of 8.8% in the EU, 9.2% in Hungary or 9% in the Czech Republic.

(Photo: Pixabay)