While casual dining spend is increasing at household level it will be another decade before it reaches pre-recession levels- even in London, new research has predicted.
The figures, released by Savills and not taking into account projections for the impact of Brexit, show that while the UK still has a long way to go some areas have already seen spend exceed 2008 levels. The data, compiled by Pitney Bowes and Oxford Economics, shows the north east, Wales, south west and Northern Ireland have surpassed pre-recession levels.
Savills’ Casual Dining in the UK report shows restaurant spend has increased in all regions in the last five years, with the south west and Yorkshire/Humber expanding most significantly with spend on dining out estimated to be £580 more per household than five years ago.
Projections for the next five years show for the majority of the UK restaurant spend will continue to rise gradually but even in London, pre-recession levels of spend are not expected until 2026.
The report says: “Increasing specific casual dining spend at the household level is less about increasing eating out spend and more closely aligned with changing the kind of places that people choose to eat out in. To this end the rising casual dining market is linked to a shift in attitudes away from a drink-led culture towards a higher quality, yet informal dining experience.”