Total receipts of the restaurants sector in 4th quarter of 2022, provisionally estimated at HK$25.5 billion, increased by 1.6%

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7th February 2023 – (Hong Kong)  The Census and Statistics Department (C&SD) released the latest provisional figures on restaurant receipts and purchases today.
 
 The value of total receipts of the restaurants sector in the fourth quarter of 2022, provisionally estimated at HK$25.5 billion, increased by 1.6% over a year earlier. Over the same period, the provisional estimate of the value of total purchases by restaurants increased by 1.7% to $8.4 billion.
 
 After netting out the effect of price changes over the same period, the provisional estimate of the volume of total restaurant receipts decreased by 1.9% in the fourth quarter of 2022 compared with a year earlier.
 
 Analysed by type of restaurant and comparing the fourth quarter of 2022 with the fourth quarter of 2021, total receipts of Chinese restaurants decreased by 1.6% in value and 4.7% in volume. Total receipts of non-Chinese restaurants increased by 2.2% in value, but decreased by 1.3% in volume. Total receipts of fast food shops increased by 3.9% in value, but remained virtually unchanged in volume. Total receipts of bars increased by 1.8% in value, but decreased by 2.2% in volume. As for miscellaneous eating and drinking places, total receipts increased by 9.0% in value and 5.5% in volume.
 
Based on the seasonally adjusted series, the provisional estimate of total restaurant receipts increased by 5.7% in value and 2.6% in volume in the fourth quarter of 2022 compared with the preceding quarter.
 
For 2022 as a whole, the value of total receipts of the restaurants sector was provisionally estimated at $86.8 billion, decreased by 6.4% in value and 9.5% in volume compared with the whole year of 2021. Over the same period, the provisional estimate of the value of total purchases of restaurants decreased by 4.2% to $29.0 billion.
 
Analysed by type of restaurant and comparing the whole year of 2022 with the whole year of 2021, total receipts of Chinese restaurants decreased by 10.0% in value and 12.9% in volume. Total receipts of non-Chinese restaurants decreased by 6.2% in value and 9.6% in volume. Total receipts of fast food shops decreased by 2.0% in value and 5.3% in volume. Total receipts of bars decreased by 9.5% in value and 12.6% in volume. As for miscellaneous eating and drinking places, total receipts decreased by 1.1% in value and 4.2% in volume.
 
 To facilitate further understanding of the short-term business performance of the restaurants sector, statistics in respect of the restaurant receipts and purchases in individual months of the reference quarter are also compiled.
 
 Analysed by month, it was provisionally estimated that the value of total receipts of the restaurants sector increased by 2.8%, 0.4% and 1.5% respectively in October, November and December 2022, compared with the corresponding months in 2021.
 
 After discounting the effect of price changes, it was provisionally estimated that the volume of total restaurant receipts decreased by 0.7%, 3.0% and 1.9% respectively in October, November and December 2022, compared with the corresponding months in 2021.
 
 A Government spokesman said that business of restaurants continued to improve in the fourth quarter of 2022, thanks to the further relaxation of social distancing measures, improved labour market conditions and disbursement of consumption vouchers. The value of total restaurant receipts increased further by 5.7% over the preceding quarter on a seasonally adjusted basis, and turned to an increase of 1.6% on a year-on-year comparison. Yet, reflecting the severe impact of the fifth wave of the local epidemic in early 2022, the value of total restaurant receipts declined by 6.4% for the year as a whole.
 
 Looking ahead, the return of economic activities from the epidemic to normalcy and an expected rebound in inbound tourism should boost business of restaurants. An expected further improvement of the labour market will provide additional support.