France: Food Service - Hotel Restaurant Institutional
Link to report:
With 91 million visitors in 2019, France is one of the world’s leading tourist destinations. Tourism accounted for 7.5 percent of GDP, providing employment to 1.5 million people. In 2020, the COVID-19 pandemic reduced the flow of visitors by almost 55 percent, triggering a loss of nearly 160,000 jobs. The Hotel, Restaurant, and Institutional (HRI) sector saw a decrease in total sales revenue to $64 billion, a 30 percent decline from the previous year. Hotels and restaurants represent the largest share of this sector ($40.5 billion). During the pandemic, fast-food proved to be the most resilient segment as many customers turned to “click and collect” and home delivery formats. These formats are continuing to expand in many restaurants, especially in urban areas. Within specific market niches there are many opportunities for U.S. products. These are highlighted in the report. In 2023, the French HRI Sector is expected to fully recover to pre-pandemic levels.