The State and Perspectives of Restaurant Business in London Essay

The State and Perspectives of Restaurant Business in London - Essay Example This shows that the customers are interested in enjoying nice meal even with lower budget (Warle, 2011). The restaurant business has contributed a lot for development of the economy. Every year it is creating a number of employment opportunities for the people of London. In London, traditional British food is more accepted, as it is one of the favourite foods of the citizens. Generally, the menu of the London Restaurant contains traditional British food items. The demand for food quality is increasing because of the changing culture as well as eating habits of the Londoners (Akbar, 2007). Economic Development and London Business Environment The hospitality sector is the fifth major industry which as per the data of the year 2010 provides employment to over 2.4 million populations in the UK. It also contributes more than ?34 billion in gross tax revenue. Creation of jobs are one of the most important aspects for development of the economy, thus it has created employment opportunities for people from Highlands of Scotland to the South West of England along with other main cities such as London or Edinburg (British Hospitality Association, 2010). The hospitality industry is the fifth leading industry in Britain which contributes 8% of total employment. The hospitality industry is leading in creating jobs in comparison to transport, financial services and communication sector. It requires support from the government in area such as taxation, infrastructure and planning of education and health policy to maximise the economic and social contribution. As observed by Oxford Economic study, the hospitality industry has opportunity to... This paper presents modern in-depth analysis of the restaurant industry in London and its role in promoting the economic growth of the UK. London restaurant industry is part of the hospitality industry. Thus, keeping in view the primary function of the hospitality industry which is to establish a new relationship as well as to promote a previously established relationship, this industry plays a significant role in making London one the most preferred destinations for people across the world. The London restaurant business is experiencing a significant amount of growth in recent years. According to the study conducted in March 2011, the hotel and restaurant sector in the UK is growing at the rate of 6.2 per cent. In spite of problems in the economy, companies such as â€Å"First Restaurant Group† in London have been still growing as compared to other companies. This shows that the customers are interested in enjoying nice meal even with lower budget. The restaurants in London are increasing their focus and interest towards the crucial aspect of sustainability. The several popular restaurants in London are purchasing food from the local suppliers. The interest of restaurant business is shifting to organic food. The marketing strategy is required to communicate with the customers. It is not only about entertainment but also involves innovation along with creativity to influence the buying habit of the customers. Advertising approach comes under marketing strategy which is used as a medium to convey message to the target customers