Russian middle class wine and dine in style
With the economy booming and salaries rising, more and more ordinary Russians are choosing to spend their money on eating out. The restaurant business is thriving, and is expected to be worth $US 12 billion by 2011. Leading the way are mid-priced restaura
Moscow, the centre of the nation’s economic boom, is home to a third of the country’s restaurants as well as its most diverse range. The number of restaurants in the city has grown on average by 34% anually over the rest few years.
Across the country, the restaurant market is growing by 10% anually.
This high figure underpins especially the growth of the mass market or middle segment of the restaurant market.
There were some restaurants of the old time with big menu but only 10% of the menu available – that was the reality of 1990 when I came in. Today you have a lot of restaurants – maybe 100% or 1,000% more than then, but the market has expanded even faster.
Founder and Board Chairman,
Rosinter Restaurants Group
The leading player in this segment is Rosinter, with a brand portfolio covering the most popular cuisines – Italian, Japanese, American, and Russian. Currently it has 202 restaurants – not just in Moscow and across Russia, but in other CIS countries and in Central Europe.
Restaurant usage in Russia still lags behind Europe and the U.S. Last year Russians spent about $US 80 per person on food services, compared with $US 420 in Germany and $US 1,370 in the UK.
“We only spend 5% of what is spent on eating out per capita in America. So I think that shows significant growth potential going forward. And I think this growth will not only be in Moscow but will also come from the regions,” said Victoria Grankina, Troika Dialog’s consumer analyst.
