Restaurants serve as the beating heart of our local communities, playing an indispensable role not only in driving economic development but also in rejuvenating and adding vitality to neighbourhoods. When homebuyers are scouting locations for their dream residence, an eclectic and vibrant mix of local dining options often factors into their decision-making process.
Despite the ongoing pressures of increasing living costs, the restaurant industry shows remarkable resilience. As of 2022, the UK boasted over 150,000 restaurants, marking an impressive 8% growth since 2019. Notably, cities like London, Manchester, Edinburgh, Glasgow, and Liverpool have experienced particularly robust expansions in their culinary scenes. This growth indicates the critical role of restaurants in urban development and their impact on the local economy.
According to a recent study conducted for Open Table, nearly two-thirds of respondents—64% to be exact—articulated that local eateries are instrumental in fostering a strong sense of community. The social fabric of a neighbourhood is often stitched together by these local establishments where people gather, converse, and build lasting connections.
Furthermore, the study revealed that nearly one-third of those surveyed said that the presence of local restaurants, pubs, and cafes significantly enriches their wellbeing. The venues don’t just offer food and drink; they provide a setting for relaxation, social interaction, and even a touch of escapism from daily life.
Source: #Dataloft, OpenTable 2023, Office for National Statistics
