The Canadian Industrial Outlook Service includes detailed five-year forecasts in 16 key Canadian industries. The report examines the short- and medium-term economic and profitability outlooks for these industries.
Canada’s Food Services Industry: Industrial Outlook, Summer 2008
Canada’s Food Services Industry: Industrial Outlook, Summer 2008
Industry Economic Analysis
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- Tight Labour Markets—Tight labour markets, particularly in Western Canada, have led to rising wage rates and limited sales growth in the food services industry. With labour markets expected to stay tight, labour costs will remain an issue for the industry over the entire forecast period.
- Tourism—Foreign tourism spending is down, but strong domestic spending is keeping total growth in tourism spending on food services healthy.
- Prices—Food services companies have been able to consistently raise prices above the rate of inflation thanks to their ability to compete on service as well as price. This allows them to pass their rising costs on to consumers and leads to improved profitability.
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