Posted February 10, 2020 04:14:06 The French city of Nice is the fastest-spending in the world, according to a new report.
The city’s population grew by 5.6 per cent between 2013 and 2017, from 5.3 million to 5.7 million, according the Institute for Economic Affairs (IEA) and the French Institute for Applied Economics (ICAE).
The city was also the fastest growing restaurant destination, rising by 1.6 percentage points to 3.7 per cent in the same period.
It has the third highest number of restaurants per capita in the EU, behind Luxembourg and Belgium, and the fastest growth in number of outlets per capita, according IEA.
It’s no surprise, then, that the city has one of the highest consumption per capita ratios in Europe.
The French have become the most permissive restaurants market in the developed world, and IEA says it has helped the city reach more than 2.5 million outlets.
That number is on par with Italy and Germany, which also have large numbers of outlets.
Nice is also the only French city to have a restaurant boom.
The IEA’s report said that in the past year, the city saw a rise in the number of food and beverage outlets by more than 600,000, which helped boost the restaurant sector’s overall sales.
The trend accelerated in 2018, when the city witnessed its biggest number of new restaurants since 2007.
The restaurant boom is also boosting the city’s economy, said IEA vice president Jean-Claude Gautier, who is also director general of the Paris restaurant trade association.
“In this fast-paced world, restaurants are essential for the growth of an economy,” he said.
The new data shows that the country has seen an increase in restaurants’ sales since 2017.
In 2017, the number rose by almost 6 per cent, but this year it rose by just 0.7 percentage points.
“We have seen the restaurants become more efficient,” Gautiers said.
“It’s a big step forward, but we still have a long way to go to achieve the Parisian goal of creating an environment that is conducive to the growth and well-being of the restaurant industry.”
Parisians also have been enjoying their local favourite food.
In January, for instance, Nice saw its second consecutive month of high restaurant consumption.
The increase is largely due to the arrival of the “Nouvelle Ville,” a gastropub which opened in 2017, and a number of other restaurants in the area.
However, the French capital has a reputation for not having much of a nightlife, with restaurants and bars closed at all hours of the day and night.
The first night-time closing law in France was introduced in 2020, and bars and restaurants remain closed at night.
Restaurants and bars have a lot of room to expand, said Gautieri.
“If you have the right infrastructure and the right talent, the restaurants can reach new markets,” he added.
French restaurants have been steadily increasing in popularity for years, and in 2018 the city became the first in the country to achieve a Michelin star.
IEA expects that the number to continue to rise in 2020 and beyond.
It said that the Michelin rating system is a measure of quality.
“The ratings system is based on a quality of a restaurant that is clearly and accurately perceived by diners,” said Gaudenhaux.
“So, the more restaurants that are rated as Michelin stars, the better.”
IEA also found that restaurants in France had the lowest turnover rates, and had the second lowest rate of customers.
In terms of average daily revenue, the average daily turnover rate is around €4.60, up from around €3.50 in 2017.
This is partly due to a rise of 1.3 percentage points in the average price of food.
According to IEA, this was due to changes in the restaurant market, as well as an increase of about 10 per cent of restaurants in 2017 compared to the previous year.
“French restaurants were hit hard in the global economic crisis, which forced them to shut down, but the city continues to grow,” Gaudanhaux said.
The restaurant industry in the UK is not as big, but its growth is still very strong, said the IEA executive director, who added that the UK has been the most active restaurant market.
While the UK and France are the top two markets in Europe for restaurant consumption, both of those countries have experienced a significant increase in the market over the past decade.
In 2019, there were more than 15 million French restaurants, compared to only 6 million in 2016, according ICES.