News & Trends

People Are Spending More Money Dining Out

By FDL on

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People Are Spending More Money Dining Out
Photo Dishoom in London

A new study that analysed 52,000 different restaurant businesses shows that people are now spending more on eating out.

In 2014 annual turnover for the restaurants analysed reached £21.6bn which is a 39% increase when compared to turnover figures from 2010.

The survey focused on businesses in England and showed that, compared to the £15.5bn spent in 2010, people have more money available to spend on dining out.

Peter Alderson, managing director of LDF, the company that performed the research, says that much of the growth has been shown in Northern cities of the country and also driven by the rise of ‘fast casual’ chains.

Overall restaurant sales in England are now up 6.6% year-on-year - a great sign for any chefs out there looking to work or open restaurants in the country.

Speaking of restaurants in the North, it’s worth noting Burnt Truffle. It’s yet to open but it’s a restaurant that was fully funded through crowd funding thanks to 892 backers who pledged £103,915 to help launch the new venture. With Burnt Truffle and The Clove Club in London - the capitals first crowd funded restaurant - perhaps it’s the perfect time to start that culinary project you’ve been dreaming of.

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