Remittances driving the Consumer Foodservice Industry

August 22nd, 2012


or the transfer of money by a foreign worker to his/her
home country, are driving the consumer foodservice industry, mainly driven by remittances to
countries like Mexico and the Philippines. Michael Schaefer, head of consumer
foodservice research at Euromonitor, states that the importance of remittances, as opposed to other forms of foreign direct
investment, is that much of it is spent on
consumption. Foodservice, he explains, is a large part of that
consumption. Schaefer gives several examples of foodservice chains that have
been directly affected by remittance flow.  

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