Hospitality [Restaurant] Industry:

The restaurant industry in the United States has seen healthy growth over the past few decades. As a leading contributor to the global restaurant market, the U.S. Restaurant Industry’s Food & Beverage Sales have more than doubled since 2000, reaching an all-time high of approximately 800 billion U.S. dollars in 2017. Compared with 1970, when annual sales amounted to a mere 42 billion U.S. dollars nationwide, today's restaurant landscape is a more vital driver of economic growth and development.

 

For millions of Americans, restaurants have also become an essential part of everyday personal and professional life. Prior to the coronavirus outbreak (COVID-19), consumers were dining out more frequently and spending more money on restaurant visits than ever before. While millions of people still depend on the hospitality sector for work, the number of employees in the U.S. Restaurant Industry have declined significantly amidst the series of nationwide restaurant closures.