Provisional statistics of restaurant receipts and purchases for third quarter of 2023
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The value of total receipts of the restaurants sector in the third quarter of 2023, provisionally estimated at $27.1 billion, increased by 12.5% over a year earlier. Over the same period, the provisional estimate of the value of total purchases by restaurants increased by 8.1% to $8.6 billion.
After netting out the effect of price changes over the same period, the provisional estimate of the volume of total restaurant receipts increased by 8.4% in the third quarter of 2023 compared with a year earlier.
Analysed by type of restaurant and comparing the third quarter of 2023 with the third quarter of 2022, total receipts of Chinese restaurants increased by 18.3% in value and 14.0% in volume. Total receipts of non-Chinese restaurants increased by 5.5% in value and 1.9% in volume. Total receipts of fast food shops increased by 11.4% in value and 7.1% in volume. Total receipts of bars increased by 10.4% in value and 6.6% in volume. As for miscellaneous eating and drinking places, total receipts increased by 18.1% in value and 13.8% in volume.
Based on the seasonally adjusted series, the provisional estimate of total restaurant receipts decreased by 2.0% in value and 6.4% in volume in the third quarter of 2023 compared with the preceding quarter.
Comparing the first three quarters of 2023 with the same period in 2022, total restaurant receipts increased by 33.9% in value and 28.9% 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 14.4%, 12.6% and 10.4% respectively in July, August and September 2023, compared with the corresponding months in 2022.
After discounting the effect of price changes, it was provisionally estimated that the volume of total restaurant receipts increased by 10.2%, 8.7% and 6.3% respectively in July, August and September 2023, compared with the corresponding months in 2022.
Commentary
A Government spokesman said that the value of total restaurant receipts continued to record a visible year-on-year increase of 12.5% in the third quarter of 2023, though extreme weather conditions caused some temporary disruption to business in the early part of September.
Looking ahead, the ongoing recovery of inbound tourism should continue to render support to business of restaurants. Continued improvement in household income, as well as the Government’s various support initiatives including "Night Vibes Hong Kong", should also help.
Further information
Table 1 presents the revised figures of restaurant receipts by type of restaurant and total purchases by the restaurants sector for the second quarter of 2023 as well as the provisional figures for the third quarter of 2023.
Table 2 and Table 3 present the revised value and volume indices respectively of restaurant receipts by type of restaurant for the second quarter of 2023 and the provisional indices for the third quarter of 2023.
Table 4 presents the year-on-year rate of change in total restaurant receipts in value and volume terms based on the original quarterly series, as well as the quarter-to-quarter rate of change based on the seasonally adjusted series.
The revised figures on restaurant receipts and purchases for the third quarter of 2023 (with breakdown by month) will be released through the website of C&SD (www.censtatd.gov.hk/en/scode540.html) and relevant publications of the Department from December 20, 2023.
The classification of restaurants follows the Hong Kong Standard Industrial Classification (HSIC) Version 2.0, which is used in various economic surveys for classifying economic units into different industry classes.
More detailed statistics are given in the “Report on Quarterly Survey of Restaurant Receipts and Purchases”. Users can browse and download the publication at the website of the C&SD (www.censtatd.gov.hk/en/EIndexbySubject.html?pcode=B1080002&scode=540).
Users who have enquiries about the survey results may contact the Distribution Services Statistics Section of C&SD (Tel.: 3903 7401; e-mail: qsr@censtatd.gov.hk).
Ends/Friday, November 3, 2023
Issued at HKT 16:30
Issued at HKT 16:30
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