Expansion Opportunities In Cafes And Casual Dining

摘要

We expect to see rapid expansion in Mexico's foodservices sector over our 2017-2021 forecast period, as the country increasinglyrnattracts investment by major international chains. We project restaurant and hotel spending to rise at a compound annual growthrnrate (CAGR) of 6.4% over this period, reaching a total industry value of MXN500bn (USD30bn).rnMuch of this growth will be driven by Mexico's large and rapidly expanding middle class. We believe the number of householdsrnearning USD15,000+ will surpass 12mn by 2021 - up from an estimated 4.8mn in 2016 and representing 36% of the total.rnConsumer preferences will become more sophisticated as a result, supporting the development of a dining-out culture andrnopening up significant room for growth in formal foodservice outlets (fast-food, casual dining and specialist cafes/bars).