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Real Sales of S. Korean Restaurants, Bars Fall to 9-Year Low Last Year

Written: 2019-02-03 12:56:38Updated: 2019-02-03 14:04:19

Real Sales of S. Korean Restaurants, Bars Fall to 9-Year Low Last Year

Photo : YONHAP News

Actual sales of restaurants and bars in South Korea fell to a nine-year low last year in spite of a record growth in private consumption.  

According to Statistics Korea on Sunday, the sales index of restaurants and bars came to 98 in 2018, down one-point-eight percent from a year earlier to post the lowest since 2010.

The index, which is calculated by eliminating effects of inflation from the sales revenue totals to assess actual sales, grew one-point-six percent on-year to hit 101-point-six in 2016, but slipped for the second consecutive year.

The drop is attributed to changes in the country's dining culture and a sharp decrease in Chinese tourists visiting the country in 2017.

The number of people working in restaurants and bars decreased by about 300 to one-point-03 million last year, marking the first drop in nine years.

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