Industry revenue of restaurants and mobile food service activities in Hungary 2011-2023

Hungary, a landlocked nation that shares its boundary with seven other countries has been experiencing a decline in population over many years now, in spite of the government taking various measures to catalyze population growth. Despite this, the economy is doing well mainly due to the influx of a vast number of tourists each year. Tourism plays a pivotal role in the country’s financial health and is also the major driver of the restaurant and mobile foodservice industry, revenues for which are expected to increase from 2.5 billion U.S. dollars in 2018 to 2.9 billion in 2023.

Although the number of restaurants has declined over the past few years, the household expenditure on restaurants and hotels has almost doubled over the period 2008-2017.

Dining out is an intrinsic part of Hungarian culture

The last few years have witnessed rapid digitalization in the food delivery industry not only in Hungary but also in many other developed and emerging economies around the world. Even though more and more people are now opting for takeaways or home deliveries, dining out remains an integral part of the Hungarian culture. According to the latest survey by Statista, 24% of respondents said that they would dine out more frequently in the future, which augurs well for the health of the restaurant industry over the short to medium term.

Industry revenue of restaurants and mobile food service activities in Hungary from 2011 to 2023

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Sources

Supplementary notes

* Estimate - This also applies for past years as data provided by statistical institutions often is not available for more recent years.

Currency conversion factor: (EUR -> USD) = 1.186

The industry classification is based on the NACE Rev.2 - system in Hungary. The industry “restaurants and mobile food service activities“ has the code “I561“.

Details on the methodology can be found here.

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