Revenues at restaurants and bars continued their ascent last year following a post-pandemic recovery in 2022.

New Statistics Canada data show that receipts* at Alberta’s food services and drinking places rose every month since June to finish the year at $1.1 billion in December.

Sales for the full year came in at a whopping $93.3 billion, 13.6% higher than the 2022 level and slightly outpacing the national increase of 12.9%.

Every sub-sector gained ground, led by a 31.5% increase in revenues at limited-service eating places (e.g. coffee shops and fast-food restaurants).

Higher restaurant prices and volumes boosted the revenue side of the ledger. Adjusting for inflation,** real sales were up by 7.3% in Alberta and 6.0% nationally relative to 2022. It is, however, important to note that the industry grappled with rising food input costs and staffing challenges (job vacancies in the food service industry remain elevated).

Employment in Alberta’s accommodation and food services sector posted an impressive 14.5% jump in 2022 and rose again by 3% in 2023, but remained below its pre-pandemic (February 2020) level.

Population and job growth remains strong in Alberta, and people continue to value dining out. Having said that, we expect growth to slow this year amid the prolonged impacts of higher borrowing costs on discretionary incomes.

*Adjusted for seasonal variation.

**Estimated by deflating sales by “food purchased at restaurants” prices in the Consumer Price Index for Alberta and Canada.

Answer to the previous trivia question: On February 20, 1962, John Glenn became the first American to circle the Earth in orbit.

Today’s trivia question: Which province has the larger area: Alberta or Saskatchewan?