Restaurant bills to rise further next year
The FoodService Institute Netherlands expects restaurant prices to rise by 4.5 percent next year, driven by inflation and economic uncertainty. Although total revenue in the hospitality sector is still projected to grow, consumers are becoming more cautious, leading to a decline in the number of restaurant visits.
The FoodService Institute Netherlands (FSIN) predicts that prices at restaurants, cafes, and sandwich shops will rise by 4.5 percent next year. When including supermarkets and specialty stores, the average price increase is expected to be 3.5 percent. Despite these rising costs, the sector's total turnover is projected to grow by 3.6 percent. This follows a year where revenue growth was driven primarily by higher prices rather than increased foot traffic, as the number of customer visits has actually declined.
FSIN director Patrick Bramer notes that while consumers have not stopped dining out, they have become significantly more critical due to economic uncertainty and higher costs. Consequently, patrons are increasingly selective, often questioning the value of a restaurant visit or seeking cheaper alternatives at grocery stores. Business confidence among hospitality entrepreneurs has also declined sharply, with the national statistics office, CBS, reporting a significant drop in sentiment during the second quarter of the year.
Based on reporting by nu. Translated and condensed by LocalHeadlines.
