The National Restaurant Association released its 2014 Restaurant Industry Forecast late last week with some exciting data relative to Louisiana. Louisiana’s 2014 Restaurant Sales are projected at slightly more than $7 billion, up 3.6 percent over 2013’s projected $6.8 billion.
“After reviewing annual data, it’s amazing to see that Louisiana’s restaurant sales have increased 38 percent in the last decade,” said Wendy Waren, VP of Communications, Louisiana Restaurant Association. “In 2004, Louisiana’s restaurant sales were $4.2 billion.
In an interview with Fox 8 New Orleans, Waren was asked what the contributing factors are to the Louisiana’s restaurant sales growth in the last 10 years. She explained, “Sales growth in Louisiana’s restaurant industry can be attributed to several factors. More Americans are relying on restaurants for their meals, the influx of people moving to the Southeast Region and the state’s focus on tourism promotion.”
The national restaurant industry enters its fifth straight year of real sales growth and operators are feeding consumer appetites with new technology, customer loyalty efforts, and evolving menu options. The NRA expects eating-and-drinking places to add jobs at a solid 2.8 percent in 2014, a full percentage point above the projected 1.8 percent gain in the total U.S. workforce.
Total Louisiana restaurant employment will be up by 1.7 percent in 2014, according to the NRA Forecast. Louisiana’s restaurant industry is the state’s largest employer with nearly 200,000 relying on the industry for their jobs or careers. By 2024, Louisiana’s restaurants will add an additional 13,200 new positions bringing the total to 210,000.
Another indicator that the economy is bouncing back is that Louisiana’s personal disposable income is projected to increase by 2.8 percent this year.
To view the entire 50 page report, please click here to download.