Hong Kong restaurant confidence index rises to 6 in Q4 2024

This was driven by stable revenues from traditional dine-in services and the expanding role of food delivery platforms.

The Restaurant Confidence Index in Hong Kong improved from 5.1 to 6 in Q4 2024 compared to Q3 2024, Deliveroo reported.

This growth in confidence is driven by a combination of stable revenues from traditional dine-in services and the expanding role of food delivery platforms in sustaining business operations, the delivery service firm noted.

Food delivery platforms continue to play a critical role in the restaurant industry, with 93% of restaurants considering them to be equally or more important to their business in the near future.

The festive season provided a significant boost to restaurant performance. During the Christmas and New Year period, 61% of restaurants reported stable or increased dine-in revenue, whilst 59% experienced steady or growing takeaway revenue.

When compared to the previous quarter, around 65% of restaurants saw stable or increased dine-in business, and 57% experienced similar growth in takeaway services, further contributing to the positive outlook.

Looking ahead, 63% of restaurants anticipate that the Lunar New Year and Valentine's Day will have a neutral or positive impact on their business.

Many restaurants are preparing to capitalize on these opportunities, with 28% planning to offer special festival menus and 20% organizing promotional events to attract more customers.

In addition to festive events, Hong Kong's restaurant industry expects the Hong Kong Sevens, major concerts, and cultural events to have a positive or neutral impact on their business.