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Amid slowdown, Taiwan's catering industry keeps growing

Amid slowdown, Taiwan's catering industry keeps growing

Taipei, Oct. 15 (CNA) Despite facing a domestic and international economic slowdown, Taiwan's catering industry continues growing with an annual revenue that could top NT$350 billion (US$10.95 billion) for this year, setting a new record, according to the Ministry of Economic Affairs (MOEA). In the first eight months of this year, the revenue of the nation's catering industry totaled NT$243.8 billion, representing an annual growth of 2.4 percent and setting a new record of the same period over the past years, the MOFA said citing official statistics. The MOFA attributed the growth mainly to increased arrivals of foreign tourists and the number of locals eating out. The catering industry has enjoyed a continued growth since 2003. Its annual total of revenues surpassed the NT$300-billion mark for the first time in 2011, reaching NT$324 billion, which was an increase of 9.1 percent over the previous year, the data showed. During the same period, the number of restaurants nationwide increased from 51,000 in 2003 to 90,493 registered at the end of July, it added. Meanwhile, the number of brands of restaurant chains increased to 368 as of the end of 2014, up 107 from 2011, while the number of affiliated restaurants increased to 5,716, up 449 during the same period, the MOFA noted. (By Huang Chiao-wen and Romulo Huang)


Updated : 2021-09-20 03:08 GMT+08:00