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

Romania joined the European Union in 2007, hoping to benefit from access to a larger market. However, the Euro crisis started immediately thereafter, crippling growth in almost all industries. The restaurant and mobile food industry was one of them and witnessed a period of stagnation in the early years after 2010.

With the help of a bailout package during 2009-2011, the country’s GDP recovered leading to an increase in business confidence in the subsequent years. In addition, the reduction in value-added tax (VAT) from 24% to 9% for food products in 2015 encouraged private consumption, which proved to be the main driver for the restaurant industry during 2013-2018. Industry revenues grew at around 120% over 2013-2018, increasing from 1.2 billion U.S. dollars to 2.7 billion U.S. dollars.

The growth in tourist arrivals, increased urbanisation, and a decline in unemployment rates are expected to drive the industry revenue in the short to medium term. Cumulatively, the industry is estimated to value around 16.5 billion U.S. dollars during 2019-2023.

Industry revenue of restaurants and mobile food service activities in Romania 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 Romania. The industry “restaurants and mobile food service activities“ has the code “I561“.

Details on the methodology can be found here.

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Statistics on "Economic Outlook Romania"

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