Starting a restaurant business in Hong Kong
Hong Kong’s competitive food and beverage industry has consistently shown growth and innovative development over decades. Opportunities abound, from the smallest independent startups to multinational franchises and prestigious Michelin star chef projects, while many niches and underserved market segments remain to be explored. According to the Census and Statistics Department, the first quarter of 2019 showed total receipts of HK$ 31.5 billion, a 3% increase over the same period in 2018. Non- Chinese restaurants increased receipts by 4.8% and fast food outlet receipts increased by 5.8%. The provisional estimate of total restaurant receipts increased by 3.9% by value and 2.8% by volume. Although the first half of the year saw a 1.4% increase in receipts compared to 2018, revenues have fallen over the summer due to ongoing political protests that resulted in a 4.6% fall in earnings during the second quarter, with various retail businesses shutting down.