Growing Industry
Mom’s apple pie, grandmother’s pudding, even Easy Mac may soon be things of the past.
Nearly half of America’s food budget is now spent in restaurants, according to a press release from the National Restaurant Association.
Margaret Binkley, assistant professor of nutrition, hospitality and retailing at Texas Tech, said she expects that number increase this year.
“I can only see that continue,” she said, “because people don’t have time to cook, they don’t want to cook any more.”
The restaurant industry just experienced it’s 16th consecutive year of growth, according to the National Restaurant Association, and sales are expected to reach $537 billion in 2007.
In Texas, sales are expected to top $32 billion this year according to the National Restaurant Association, and the industry is expected to provide nearly a million jobs.
Binkley said students seem to be rising to the occasion. The Restaurant, Hotel and Institute Management program at Tech is growing too. This year it was the seventh largest program at Tech, with 500 enrolled students.
“It’s growing everywhere, because the industry is growing,” Binkley said.
And as baby boomers continue to spend, and dining costs continue to go down, Binkley said these are trends that are likely to continue.
