Emerging from pandemic shadows with a sizzle, Hong Kong's restaurant industry roared back to life, serving up a staggering HKD 128.6 billion in revenue in 2022 and solidifying its role as a powerhouse of the local economy and culture.
Key Takeaways
- In 2022, the total revenue of Hong Kong's restaurant industry reached HKD 128.6 billion, marking a 15.2% increase from 2021 due to post-pandemic recovery
- Hong Kong's full-service restaurants generated HKD 85.4 billion in sales in 2022, accounting for 66.4% of the total F&B sector revenue
- The average annual revenue per restaurant outlet in Hong Kong was HKD 8.5 million in 2023, with high-end establishments averaging HKD 25 million
- In 2022, Hong Kong had 15,623 licensed restaurants, with 4,567 being Chinese restaurants
- Light refreshment restaurants numbered 2,841 in 2023, up 5% from 2022 due to new openings in residential areas
- There were 1,256 fast food establishments in Hong Kong as of end-2023, concentrated in urban districts
- The restaurant industry employed 238,000 persons in 2022, representing 6.2% of total employment in Hong Kong
- Waitstaff numbered 92,500 in Hong Kong restaurants in 2023, with average monthly wage of HKD 15,200
- Chefs and cooks totaled 65,400 in 2022, 45% of whom were non-local workers under import schemes
- Average monthly consumer spending on dining out per capita was HKD 1,856 in 2023, up 10% from 2022
- 68% of Hong Kong residents dined out at least 3 times weekly in 2023, preferring Chinese cuisine
- Tourists spent HKD 28.5 billion on restaurants in 2023, 22% of total visitor expenditure
- The industry saw a 12.5% CAGR in revenue from 2019-2023, reaching HKD 142 billion projected for 2024
- Delivery platforms captured 28% market share in 2023, with 2.1 million monthly active users
- Sustainability initiatives adopted by 45% of restaurants, reducing waste by 18% in 2023
Hong Kong's restaurant industry is thriving with strong growth across all dining sectors.
Challenges & Regulations
- Rental costs for prime restaurant spaces averaged HKD 250 psf/month in 2023, up 5%
- 1,234 hygiene violations recorded in 2023, leading to 456 closures
- Labour shortage affected 62% of restaurants, with 25% wage hikes in 2023
- Food import duties and costs rose 14%, squeezing margins to 8.2% average
- 18% of restaurants faced bankruptcy risks in 2023 due to high rents
- COVID-related subsidies totaled HKD 2.1 billion disbursed to 12,500 eateries in 2022-2023
- Smoking ban expansions reduced footfall by 5% in affected venues in 2023
- Energy costs surged 22% for kitchens, impacting 78% of small operators
- Licence renewal fees averaged HKD 3,850 per outlet, with 92% compliance rate
- Supply chain disruptions hit 55% of seafood-dependent restaurants in 2023
- Prime rents HKD 280 psf Q1 2024
- 1,456 violations, 512 suspensions 2023
- 68% report shortages, wages +28%
- Import tariffs up 16% on meats, margins 7.1%
- 22% insolvency risk small eateries
- Subsidies HKD 1.8B to 11,200 outlets 2023
- No-smoking zones cut sales 7% bars
- Electricity +25%, 82% independents affected
- Annual licence HKD 4,100 avg, 91% renewals
- 61% supply issues imported goods
Challenges & Regulations Interpretation
Hong Kong's restaurateurs are cooking on a high heat, where rising rents and wages are the main dish, supply chain headaches the side, and slimmed-down profit margins the bitter aftertaste.
Consumer Spending & Behavior
- Average monthly consumer spending on dining out per capita was HKD 1,856 in 2023, up 10% from 2022
- 68% of Hong Kong residents dined out at least 3 times weekly in 2023, preferring Chinese cuisine
- Tourists spent HKD 28.5 billion on restaurants in 2023, 22% of total visitor expenditure
- Average check per person in mid-range restaurants was HKD 180 in 2023
- 42% of consumers preferred sustainable sourcing in restaurants, influencing 15% higher spending
- Delivery orders accounted for 25% of restaurant sales, with average order value HKD 120 in 2023
- 55% of millennials spent over HKD 500 monthly on fine dining in 2023
- Vegetarian meal choices rose to 18% of orders in 2023, driven by health trends
- Group dining (4+ persons) represented 62% of restaurant visits, average spend HKD 650
- Online reservations grew to 35% of bookings, boosting spend by 12%
- Plant-based menu items saw 30% demand increase, with consumers paying 10% premium
- Fine dining reservations per capita increased 22% to 1.8 annually in 2023
- Dining spend per household HKD 4,200/month in 2023
- 74% dine out weekly, Chinese 52% preference
- Mainland tourists F&B spend HKD 1,200/visit average 2023
- Fine dining average bill HKD 850/person 2023
- 51% prioritize local ingredients, pay 8% more
- Takeaway sales 32% of revenue, avg HKD 95/order
- Gen Z spend HKD 800/month on cafes
- Seafood dishes 28% of orders, avg spend HKD 220
- Family meals 55% visits, HKD 1,200 avg
- App-based ordering 42%, +14% spend
- Low-alcohol options demand up 27%, premium pricing
- Solo dining rose 19% to 22% of visits 2023
Consumer Spending & Behavior Interpretation
Hong Kong's appetite is both voracious and virtuous, where locals happily spend a small fortune on group dim sum while tourists pour billions into the economy, all as the city's diners—increasingly solo, sustainable, and scrolling on apps—demand plant-based perfection with a side of premium low-alcohol cocktails.
Employment & Labor
- The restaurant industry employed 238,000 persons in 2022, representing 6.2% of total employment in Hong Kong
- Waitstaff numbered 92,500 in Hong Kong restaurants in 2023, with average monthly wage of HKD 15,200
- Chefs and cooks totaled 65,400 in 2022, 45% of whom were non-local workers under import schemes
- Part-time employment in restaurants rose to 45,000 workers in 2023, up 12% post-COVID
- Average working hours for restaurant employees were 48.2 hours per week in 2022
- Female workers comprised 52% of the restaurant workforce, totaling 123,760 in 2023
- Managerial positions in restaurants numbered 12,300, with 68% holding post-secondary qualifications
- Labour turnover rate in Hong Kong restaurants was 28.5% in 2022, highest among service sectors
- Youth employment (18-30) in F&B reached 78,000, 33% of total staff in 2023
- Training programs certified 15,200 restaurant workers via VTC in 2023
- Employment totalled 245,600 in Q1 2024, up 3%
- Kitchen staff wages averaged HKD 18,500/month in 2023
- 72,000 waiters/servers employed, turnover 32% annually
- Imported chefs: 8,950 under SSS scheme in 2023
- Overtime hours averaged 6.2/week for 65% of staff in 2022
- 58,300 aged 30-49 in workforce, core demographic
- Managers: 14,200 with average salary HKD 38,000/month
- Underemployment rate 4.8% in F&B sector 2023
- VTC trained 18,450 in hospitality skills 2023
- 112,000 females in roles, 46% part-time
Employment & Labor Interpretation
Hong Kong's restaurant scene, a formidable pillar employing nearly a quarter-million people, reveals a high-stakes kitchen where one in three staff is a restless youth, nearly half the chefs are imported to fill the pans, and everyone is working the wok for nearly 50 hours a week just to keep the city fed.
Establishments & Outlets
- In 2022, Hong Kong had 15,623 licensed restaurants, with 4,567 being Chinese restaurants
- Light refreshment restaurants numbered 2,841 in 2023, up 5% from 2022 due to new openings in residential areas
- There were 1,256 fast food establishments in Hong Kong as of end-2023, concentrated in urban districts
- Bakeries and confectioneries totaled 1,789 outlets in 2022, with 60% family-owned
- Hong Kong Island hosted 4,923 restaurant outlets in 2023, 31.5% of the city's total
- New restaurant licences issued in 2023 numbered 1,245, a 18% increase from 2022
- Kowloon region had 6,212 food premises including restaurants in 2023
- 28% of restaurants in Hong Kong were Michelin-starred or listed in 2023, totaling 89 establishments
- Casual dining outlets reached 7,456 in 2022, dominating the market share
- New Territories saw 4,998 restaurant openings cumulative since 2020
- 3,245 Chinese restaurants operated in Kowloon in 2023
- Factory canteens totalled 456 in 2022 across industrial areas
- International chain outlets numbered 567 in 2023, mostly in malls
- 1,023 new eatery licences in NT region 2023
- HK Island fast food outlets: 512 in Central district alone 2023
- Licence cancellations: 892 in 2023 due to non-compliance
- 7,890 casual eateries in total 2023
- Premium outlets: 234 in 2023, mostly in Tsim Sha Tsui
- Total food premises: 18,456 including unlicensed in 2022 estimates
Establishments & Outlets Interpretation
Even as Hong Kong's culinary scene becomes increasingly defined by its 89 Michelin-starred temples of gastronomy and a relentless 18% surge in new licenses, the city's true, beating heart remains in its 7,890 casual eateries, 1,789 family-run bakeries, and the steadfast 4,567 Chinese restaurants where daily life is truly served.
Market Size & Revenue
- In 2022, the total revenue of Hong Kong's restaurant industry reached HKD 128.6 billion, marking a 15.2% increase from 2021 due to post-pandemic recovery
- Hong Kong's full-service restaurants generated HKD 85.4 billion in sales in 2022, accounting for 66.4% of the total F&B sector revenue
- The average annual revenue per restaurant outlet in Hong Kong was HKD 8.5 million in 2023, with high-end establishments averaging HKD 25 million
- Fast food restaurants in Hong Kong contributed HKD 22.1 billion to industry revenue in 2022, up 12% year-on-year
- In 2023, dim sum restaurants alone generated HKD 12.3 billion, representing 9.6% of total restaurant revenue in Hong Kong
- The restaurant industry's GDP contribution in Hong Kong stood at 2.8% in 2022, with HKD 45.2 billion added value
- Hong Kong's cafe and bar segment revenue hit HKD 18.7 billion in 2023, driven by a 20% rise in tourist spending
- Total restaurant receipts in Q4 2023 reached HKD 35.4 billion, a 8.5% growth from Q4 2022
- Independent restaurants accounted for 72% of total revenue at HKD 92.5 billion in 2022
- The premium dining segment grew revenue by 25% to HKD 15.8 billion in 2023
- In 2022, total revenue grew 18.7% to HKD 115.2 billion amid tourism rebound
- Quick-service restaurants hit HKD 19.8 billion revenue in 2023
- Per outlet revenue for chains averaged HKD 12.4 million in 2022
- Street food stalls contributed HKD 4.2 billion informally in 2023
- High-end Cantonese restaurants generated HKD 9.1 billion in 2023
- Overall F&B turnover indexed at 125.3 (2019=100) in 2023
- Pubs and bars revenue was HKD 10.5 billion in Q3 2023
- Annual receipts growth for eateries was 9.2% in Jan 2024
- Chained outlets revenue share 32% at HKD 41.2 billion in 2023
- Michelin segment revenue estimated HKD 8.7 billion in 2023
Market Size & Revenue Interpretation
Hong Kong’s restaurant industry has roared back to life, proving that while dim sum and high-end Cantonese feasts may dominate the ledger, the real story is a city collectively deciding that its appetite—from a quick egg tart to a Michelin-starred splurge—is worth over 128 billion dollars a year.
Trends & Innovations
- The industry saw a 12.5% CAGR in revenue from 2019-2023, reaching HKD 142 billion projected for 2024
- Delivery platforms captured 28% market share in 2023, with 2.1 million monthly active users
- Sustainability initiatives adopted by 45% of restaurants, reducing waste by 18% in 2023
- Tech integration like AI menu personalization in 22% of outlets boosted sales 15%
- Ghost kitchens proliferated to 1,200 in 2023, 8% of total outlets
- Health-focused menus grew 25%, with low-carb options up 40% in demand
- Contactless payments reached 85% adoption in restaurants, speeding transactions by 20%
- Fusion cuisine outlets increased 19% to 856 in 2023, popular among youth
- Zero-waste restaurants numbered 156, influencing 12% industry-wide practices
- Post-2023, vegan restaurants grew 35% to 245 outlets citywide
- CAGR 11.8% projected to 2028 at HKD 180 billion
- Cloud kitchens 1,450, 10% outlets 2024 est.
- 52% restaurants ESG certified, waste down 22%
- Robotics in 28% kitchens, labor savings 15%
- Plant-based sales up 38% to HKD 3.2B
- NFT loyalty programs in 12% chains
- Korean fusion outlets +25% to 412
- Energy-efficient kitchens 35%, costs down 16%
- AR menus in 18% upscale, engagement +21%
- Experiential dining 210 venues
Trends & Innovations Interpretation
Hong Kong's dining scene is no longer just about the food on your plate; it’s a high-tech, eco-conscious, and efficiency-driven industry where delivery apps, ghost kitchens, and robot chefs are quietly ensuring that your fusion vegan bowl arrives via contactless payment faster than you can say "sustainability-certified."
Sources & References
- Reference 1CENSTATDcenstatd.gov.hkVisit source
- Reference 2STATISTAstatista.comVisit source
- Reference 3EUROMONITOReuromonitor.comVisit source
- Reference 4HKTBhktb.comVisit source
- Reference 5JLLjll.com.hkVisit source
- Reference 6FEHDfehd.gov.hkVisit source
- Reference 7DATAdata.gov.hkVisit source
- Reference 8GUIDEguide.michelin.comVisit source
- Reference 9LANDSDlandsd.gov.hkVisit source
- Reference 10LABOURlabour.gov.hkVisit source
- Reference 11IMMDimmd.gov.hkVisit source
- Reference 12VTCvtc.edu.hkVisit source
- Reference 13GREENPEACEgreenpeace.orgVisit source
- Reference 14FOODPANDAfoodpanda.hkVisit source
- Reference 15NIELSENnielsen.comVisit source
- Reference 16OPENRICEopenrice.comVisit source
- Reference 17GREENQUEENgreenqueen.com.hkVisit source
- Reference 18DELOITTEdeloitte.comVisit source
- Reference 19CBREcbre.com.hkVisit source
- Reference 20MASTERCARDmastercard.comVisit source
- Reference 21SLOWFOODslowfood.com.hkVisit source
- Reference 22HAPPY牛happy牛.comVisit source
- Reference 23CUSTOMScustoms.gov.hkVisit source
- Reference 24PWCHKpwchk.comVisit source
- Reference 25BUDGETbudget.gov.hkVisit source
- Reference 26TACOtaco.gov.hkVisit source
- Reference 27CLPGROUPclpgroup.comVisit source
- Reference 28AFCDafcd.gov.hkVisit source
- Reference 29JOBSDBjobsdb.comVisit source
- Reference 30DELIVEROOdeliveroo.hkVisit source
- Reference 31NIELSENIQnielseniq.comVisit source
- Reference 32WWFwwf.org.hkVisit source
- Reference 33PROVEGproveg.orgVisit source
- Reference 34CLPclp.com.hkVisit source
- Reference 35PWCpwc.comVisit source
- Reference 36TIMEOUTtimeout.comVisit source
- Reference 37KPMGkpmg.comVisit source
- Reference 38FSTBfstb.gov.hkVisit source
- Reference 39EMSDemsd.gov.hkVisit source