Texas Restaurant Industry Leads the Nation in Projected Sales Growth
- Published on Thursday, February 02, 2012
The Texas restaurant industry is projected to lead the country in sales growth in 2012 according to the National Restaurant Association’s 2012 Restaurant Industry Forecast.
Texas is projected to see sales of $38.4 billion, a 4.1% increase over 2011. Restaurants in Texas will employ 1,017,500 Texans, a slight increase from 2011. Texas is also projected to post the strongest growth in employment over the next decade, increasing 17.1% to 1,192,000 employees.
“The Texas restaurant industry is a vibrant, dynamic and valuable part of our state’s economy and culture,” said Richie Jackson, TRA CEO. “The fact that we are leading the nation in sales and employment increases is exciting. It confirms that restaurants, in addition to being cornerstones of their communities, are engines of economic growth and job creation across the state.”
Nationally, restaurant industry sales are expected to reach $632 billion in 2012, a 3.5 percent increase over 2011, marking the second consecutive year that industry sales have topped $600 billion. In addition, the restaurant industry continues to fuel U.S. employment in the year ahead as the nation’s second largest private sector employer. Overall restaurant industry employment will reach 12.9 million in 2012, representing 10 percent of the total U.S. workforce.
“As our nation slowly recovers from the economic downturn, restaurants continue to be a vital part of American lifestyles and our nation’s economy,” said Dawn Sweeney, president and CEO of the National Restaurant Association. “We expect the nation’s nearly one million restaurants to post sales of $632 billion this year. Combine that with the fact that restaurant job growth is expected to outpace the overall economy for the 13th straight year and it’s clear that the restaurant industry is once again proving to be a significant economic stimulant and strong engine for job creation.”
In addition to containing a national, regional and state-by-state sales and employment outlook, the 2012 Restaurant Industry Forecast provides details on the latest economic, consumer, technology and operator trends.
The complete 2012 Restaurant Industry Forecast is available FREE for TRA restaurant members. Click here to download the report.