Press Release Articles
Texas Restaurant Industry Sales to Reach $33.7 Billion
2/27/200810:37:40 AM Link | | Add comment
The Texas Restaurant Association today announced that Texasrestaurant industry sales are expected to reach $33.7 billion in 2008, showing a 5.8% growth, according to the National Restaurant Association’s 2008 Restaurant Industry Forecast. The number of restaurant jobs in Texas will also increase and is projected to grow by 22.9 %by the year 2018. The restaurant industry is a major driver in both the nation's and Texas’ economy and a leader in job creation, as the industry enters its 17th consecutive year of real growth.“More than 995,000 Texans will be employed in the restaurant industry in our state in 2008,” said Richie Jackson, TRA executive vice president and CEO. “As the largest private sector employer in the state, the restaurant industry offers exciting career opportunities for many Texans. With industry sales consistently increasing, the restaurant industry continues to play a vital role in the state’s economy.”On the national level, sales will reach $558 billion in 2008, an increase of 4.4 percent, or 0.9 percent real (inflation-adjusted) growth; a total economic impact of more than $1.5 trillion. Restaurant jobs are also on the rise nationally, with an expected 13.1 million employees in 2008. With the number of restaurant locations in the United States growing to 945,000 in 2008, the number of restaurant jobs will also increase; the industry is expected to add two million jobs in the next 10 years. These impressive figures demonstrate that the nation’s restaurants are a driving force in national and state economies."The restaurant industry is entering its 17th consecutive year of real sales growth in 2008, and while the overall economy is slowing, the industry will still show respectable growth," said Dawn Sweeney, President and CEO of the National Restaurant Association. "As industry sales continue to increase and its total economic impact exceeds $1.5 trillion, the workforce is also growing. In 2007, we added 400,000 career and employment opportunities, and we expect to add an additional two million in the next decade. With consumers now spending 48 percent of their food budget in restaurants, our industry is a major part of Americans' lifestyle."In addition to containing a national, regional and state-by-state sales and employment outlook, the 2008 Restaurant Industry Forecast provides details on the latest economic, consumer, menu, operator, and workforce trends. For more information visit the National Restaurant Association's Web site at www.restaurant.org/forecast or TRA’sWeb site, www.restaurantville.com
