TORONTO, Oct. 24, 2013 /CNW/ - Growth in Western Canada and a rebound in
sales in Central Canada will help push restaurants sales up a healthy
4.7% in 2014, according to a new report from the Canadian Restaurant
and Foodservices Association (CRFA). That's stronger than the
previously projected 3.6%.
Every province will see higher restaurant sales next year, but booming
economies in Alberta, Saskatchewan and Manitoba mean they will lead the
country with growth of more than 5% in each province.
"The Canadian economy is turning a corner, but rising food and labour
costs, as well as competition for the food dollar, will continue to
make this a challenging environment for restaurant operators," says
Garth Whyte, CRFA's President and CEO. "What's clear from this
forecast, however, is that our industry will continue to create jobs
and investment in communities across the country in 2014."
CRFA uses an econometric model to forecast commercial foodservice sales
by using the Conference Board of Canada's forecasts of disposable
income, real GDP, employment and tourism to predict sales across the
restaurant and food services industry until 2017.
CRFA is one of Canada's largest business associations, with 30,000
members representing restaurants, bars, caterers, institutions and
other foodservice providers. Canada's $65-billion restaurant industry
employs more than one million people in communities across the country.
Image with caption: "Restaurant Industry Sales Forecast 2014 (CNW Group/Canadian Restaurant and Foodservices Association)". Image available at: http://photos.newswire.ca/images/download/20131024_C6736_PHOTO_EN_32508.jpg
SOURCE: Canadian Restaurant and Foodservices Association
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