TORONTO — Canadians are preparing to loosen their purse strings and spend more, as restaurant sales in the country are expected to increase modestly this year, according to the Canadian Chain Restaurant Industry Review commissioned by GE Capital and compiled by FsStrategy and NPD Group Canada.
“For the first time, we’re compiling a comprehensive analysis and factual overview of the state of chain foodservice in Canada,” said Ed Khediguian, GE Capital’s senior vice-president of Franchise Finance.
“These findings have implications for job growth, construction activity and other factors that will impact the economic health of Canada this year and for several years to come. They also shed light on consumer spending habits and trends from province to province.”
According to the report, Canadian foodservice sales are expected to increase by 3.1 per cent to $65.4 billion in 2012. Last year, Alberta had the fastest-growing market at 7.8 per cent, while British Columbia was the only province that realized foodservice revenue declines.
The complete review will be distributed to attendees of the Canadian Restaurant Investment Summit, which runs today and tomorrow at the Hilton Toronto hotel.