Exploring the future of Istanbul’s restaurants Industry: How will the online-savvy population and government support impact the dining scene? : Ken Research
Customers that visit restaurants in Turkey most frequently go to Istanbul. Istanbul also draws a significant amount of domestic travelers and population emigration. With nations like Germany, Iran, and Russia leading the way in terms of the percentage of tourists visiting Turkey, Istanbul is the destination of choice for tourists from Western Asia and Europe. However, the industry faced a decline in growth due to the rise in COVID-19 cases. Here is a glimpse to how the restaurant industry in Istanbul is planning to get back into the race. Let’s dive in.
1. Given the backdrop of the highest population and massive flow of tourists, Istanbul contributes the highest share to the restaurants industry in Turkey
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2. However, the restrictions imposed during different phases of COVID-19 jeopardized the future of 100,000+ restaurants & cafes operating across Turkey
3. While certain restaurants suffered due to operational restrictions, few restaurants leveraged on D2C ‘retail sales’ of their food ingredients and diversified business segments
4. Subsequent waves and variants of COVID-19 coupled with fast pace of vaccination have prompted businesses, customers and government to “learn to live” and strategize accordingly
5. The fear of the virus still looms yet support from the government fostered confidence and provided a cushion to industry participants
6. The growth of the Restaurant Industry in Istanbul is further expected to be shaped by changing customer behavior to becoming online savvy & focus on alternate channels of revenue by businesses
Some of the Intelligence Curated by Ken Research in Restaurant Industry Space:
- Qatar Retail Restaurant Industry Outlook to 2027 Driven by Increased Tourism Due to FIFA World Cup, Government Initiatives and Growing Trend of Online Food Delivery
- India Catering Services Market Outlook to 2027F By Event Catering, Industrial, Education, Flight, Healthcare, Corporate, and Other Catering
- China Catering Market Outlook 2027F driven by increasing demand & innovative business Model
- Australia Catering Services Market Outlook To 2027F By Event Catering, Industrial, Education, Flight, Healthcare, Corporate, and Other Catering
- Kuwait Catering Services Market Outlook to 2027F By Event Catering, Industrial, Education, Flight, Healthcare, Corporate, and Other Catering
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