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Vice President, Membership & Marketing
401-223-1120, ext. 116
PRESS & MEDIA
The RI Hospitality Association (RIHA) is pleased to announce that the State’s restaurant industry is expected to post 2.3% growth in 2014 to reach $1,980,821 in sales, according to the National Restaurant Association’s (NRA) 2014 Restaurant Industry Forecast. hode Island restaurants will employ 50,600 next year and create an additional 3,100 jobs in the next decade.
“These new numbers represent a very positive outlook for the restaurant industry in Rhode Island,” said Dale Venturini, President and CEO of RIHA. “Despite many obstacles over the past several years, it appears that we are finally seeing the light at the end of the tunnel.”
2014 will mark the fifth consecutive year of restaurant industry sales growth nationally despite a continued challenging economic landscape. Overall, industry sales are projected to exceed $683 billion in 2014, up 3.6 percent from 2013’s sales volume of $659 billion.
2014 will also mark the 15th straight year in which restaurant industry employment growth will outpace overall employment growth. The industry will continue to be the nation’s second largest private employer with 990,000 restaurants employing 13.5 million individuals or 10 percent of the total workforce. The NRA expects restaurants to add 1.3 million new positions in the next decade, pushing industry employment to 14.8 million by 2024.
“As our nation continues its road to recovery, the restaurant industry will remain a key driver of economic growth and a leading jobs creator,” said Dawn Sweeney, President and CEO of the National Restaurant Association. “Restaurants touch every community across the U.S., and 2014 will be a year of growth and innovation as the industry focuses on inspired new ways to meet consumer demand while providing valuable careers to millions of Americans.”
While the restaurant industry is expected to grow in 2014, operators will continue to face a range of challenges. The top challenges cited by restaurateurs vary slightly by industry segment, and include government regulations, food costs, labor costs, and the economy.
For more information about the NRA’s 2014 Restaurant Industry Forecast, visit Restaurant.org/Forecast.
About the National Restaurant Association
Founded in 1919, the National Restaurant Association is the leading business association for the restaurant industry, which comprises 980,000 restaurant and foodservice outlets and a workforce of more than 13 million employees. We represent the industry in Washington, D.C., and advocate on its behalf. We operate the industry's largest trade show (NRA Show May 17-20, 2014, in Chicago); leading food safety training and certification program (ServSafe); unique career-building high school program (the NRAEF's ProStart); as well as the Kids LiveWell program promoting healthful kids' menu options. For more information, visit www.restaurant.org and find us on Twitter @WeRRestaurants, Facebook and YouTube.
About the RI Hospitality Association
With more than 650 foodservice and hospitality members in Rhode Island, the RI Hospitality Association (RIHA) has been the voice of the hospitality industry in the state since 1982. For more information on the RIHA, please call (401) 223-1120, or write to: RI Hospitality Association,94 Sabra Street, Cranston, RI, 02910, or visit www.rihospitality.org.