The Consultant - Q1 2009 - (Page 15) IN T E RN AT ION A L M A RK E T PE RSPEC T I V E S Asia-Pacific Chinoiz, a stylish Mediterranean casual dining restaurant with two outlets in Kuala Lumpur, Malaysia, has weathered major crises, such as the SARS outbreak. Surprisingly, the restaurants are trading at “historical figures” thus far, despite 10-20% dips in most foodservice sales in the country. The Big Dip By Jenny Tan How is the economic recession affecting the F&B industry in Asia? Restaurateurs, wine retailers and suppliers we consulted are bracing themselves for a rough 2009. T he food and beverage industry in Asia usually looks forward to t he mont h s of N ove mb e r through February. These months comprise the festive seasons of Christmas, New Year, Chinese New Year and Valentine’s Day, and during these holidays, restaurants are fully booked and cash registers joyously ring. But in 2008 and 2009, the scene is looking less than joyous. The reason: An economic recession which has cus- tomers cutting back on budgets. Since the rapid decline of the markets and official announcement that the world is in recession, restaurateurs have tensely waited to see just how bad the effects are likely to prove. On the whole, restaurants have observed a 20-30% decline in business, even during this peak period, which has the foodservice industry understandably worried. Those hardest hit by the gloomy economic climate are the fine dining First Quarter 2009 15
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