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Their Take: ARA Responds to New Stat – Arizona Is No. 2 in Restaurant Inflation
inbusinessPHX.com
USA Today recently listed Arizona as No. 2 on its list of the top five states that had been hardest hit by restaurant inflation. Arizona had increased 23%, from $96.68 to $118.54 when comparing the change in consumer spending during two-week periods that were analyzed.
However, this doesn’t mean that Arizonans as spending the most on their dining out experiences. In fact, they did not make that top five list — Hawaii and California took the top two spots in that category.
Further data shows that Arizonians are actually dining out slightly less, with a -2% change in restaurant reservations since February of 2023. But promoting dining out and supporting the state’s hospitality industry is the mission of the Arizona Restaurant Association (ARA), which has stats of its own — ones that showcase the incredible impact the industry as on the state’s economy.
According to the Arizona Restaurant Association, in 2023 nearly 260,000 people on average were employed throughout the year by the hospitality industry and this year, the industry is expected to employ an average of 267,000 people. The ARA also projects that 2024 will result in increased payroll of $7.9 billion (or $21.7 million per day).
Last year, sales of restaurants (eating and drinking places) even outperformed food and beverage (grocery) stores by $125 billion on a national scale. Arizona’s 2023 restaurant sales came in at $22 billion, with $23.1 billion serving as the projection for 2024.
These impressive numbers impact the state in a big way, according to Arizona Restaurant Association President and CEO Steve Chucri.
“People love the dining experiences Arizona has to offer and that is evident in the massive growth of our industry along with the reputation our state has earned as a true culinary destination,” said Chucri. “Beyond that, the industry supports Arizona’s employment, revenue, agriculture and other businesses — and it keeps our local dollars here in our community.”
Get more about the Arizona Restaurant Association and its members here.
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