Philippines: Food Service - Hotel Restaurant Institutional

With the further relaxation of COVID-19 restrictions, increased consumer mobility resulted in higher foot traffic in restaurants and hotels. Consumers have become more confident in dining in restaurants. Coming from a low base, key food service establishments remain optimistic about growing the food service industry by 12 percent despite supply chain disruptions and inflation. Last year, U.S. consumer-oriented agricultural exports to the Philippines ranked the highest in value in Southeast Asia. Post forecasts a 16 percent increase in U.S. consumer-oriented exports.