Restaurant Industry | Analysis of Australian Restaurant Industry

$15.00

assignment.

topic. Restaurant Industry

Description

The restaurant industry provides foods and beverages. It is a mature industry characterized by low entry and exist barriers. Its contribution to the Australian economy is enormous, and this is expected to rise to 43.0% annually through 2021-2022 (Magner, 2017). This is a strong performance against projected GDP growth of 2.9% over the next five years, which means the industry will grow faster than the overall economic growth rate (Australian Government, 2017). The number of businesses in the industry is projected to grow by 2.9% over ten years, driven by demand for quality food and dining experiences (Magner, 2017).