Restaurants continue to thrive as receipts hit $29.9b in Q3

Bars outperformed other food segments after receipts grew 10.1% in value.

Hong Kong’s restaurant sector extended its positive quarterly streak after total receipts climbed 5.6% YoY to $29.9b in Q3, according to the Census & Statistics department. 

Restaurant sales outstripped expenses even after total purchases rose 4.2% to $9.6b over the same period.

Also read: Restaurant receipt value hits $11.27b in 2017

Bars outdid other restaurant segments in Q3 after booking the largest increase in total receipt value which rose 10.1%. Non-Chinese and fast food shops restaurants also enjoyed strong sales after receipt values rose by 6.1% and 4.9% respectively.

On the other hand, Chinese restaurants recorded the weakest Q3 growth in total receipts which rose by 4.8%.

Analysed on a monthly basis, the value of total receipts of the restaurants sector increased on a YoY basis by 4.8%, 7.2% and 4.8% respectively in July, August and September 2018.