France: Food Service - Hotel Restaurant Institutional

France is the world’s leading tourist destinations. Revenues are returning to pre-covid standards since France earned 58 billion in 2022 thanks to foreign tourism. The Hotel, Restaurant, and Institutional (HRI) sector saw a decrease in total sales revenue to $64 billion, a 30 percent decline from the previous year. Hotels and restaurants represent the largest share of this sector ($40.5 billion). The commercial activity boosted by customer pleasure, the cost of raw materials, a new human resources model, and the growth of inflation are elements that have strong impact of the HRI sector. The year 2023 is apprehended between optimism and fear of restaurateurs about their profitability and resilience. The fast-food proves to be the most resilient segment as many customers turned to “click and collect” and home delivery formats. These formats are continuing to expand in many restaurants, especially in urban areas. Within specific market niches there are many opportunities for U.S. products.