|
 |
|
Source:
www.gov.sg |
|
ECONOMIC SURVEYS SERIES Reference Year 2004 |
|
Food & Beverage Services |
|
|
The food & beverage (F&B) services industry
comprised about 4,500 establishments in 2004. The industry employed a
total of 65,000 workers, or about 15 workers per establishment. |
|
I. ECONOMIC PERFORMANCE |
|
Total operating receipts generated by the
F&B services industry amounted to $3,884 million in 2004, growing by 5.1
per cent over 2003. On a per establishment basis, operating receipts
rose marginally from $864,100 in 2003 to $864,200 in 2004. |
|
Total operating expenditure increased from
$3,566 million in 2003 to $3,772 million in 2004. Correspondingly,
operating expenditure per establishment increased slightly by 0.7 per
cent to $839,400 in 2004. |
|
Total operating surplus amounted to $244
million in 2004, an increase of 1.8 per cent compared to the previous
year. On a per establishment basis, operating surplus fell slightly from
$56,200 in 2003 to $54,400 in 2004. |
|
Total value added generated by F&B services
industry was $1,249 million in 2004, increasing by 6.0 per cent over
2003. Value added per establishment went up from $275,400 in 2003 to
$278,000 in 2004. |
|
II. MAIN TYPES OF FOOD & BEVERAGE
SERVICES |
|
Restaurants formed the largest group,
accounting for 28.2 per cent of the total establishments in food &
beverage services in 2004. They employed about 25,200 workers or 38.8
per cent of the total F&B workforce (Chart 1). |
|
 |
|
On a per establishment basis, however, fast
food outlets were the largest employers. On average, 36 workers were
hired per establishment, of which a large proportion were part-time
employees. The number was also relatively higher compared to the
averages of 20 and 22 workers engaged by restaurants and food caterers
respectively. |
|
Restaurants were also the largest
contributors in terms of operating receipts and value added, accounting
for 36.0 per cent of total operating receipts and 40.4 per cent of total
value added of the overall industry in 2004. Although small in number,
food caterers¨ contributions to total operating receipts (14.9 per cent)
and total value added (20.0 per cent) of the F&B services industry were
also fairly significant (Chart 2). |
|
 |
|
The top three business cost items for
overall F&B services were purchases of food and beverages for sale,
remuneration and rental of premises (Table 1). For restaurants and food
caterers, about two-thirds of total operating expenditure was incurred
on purchases and remuneration. Rental payment was the second largest
cost item for fast food outlets, accounting for 25.1 per cent of total
operating expenditure. |
|
 |
|
III. KEY PERFORMANCE RATIOS |
|
Profitability Ratio of overall F&B services
declined marginally to 6.3 per cent in 2004 from 6.5 per cent in 2003.
Compared to 2003, restaurants registered higher profitability ratio in
2004, while fast food outlets and other F&B services reported otherwise.
Within the industry, food caterers recorded the highest profitability
ratio of 18.7 per cent in 2004 (Chart 3). |
|
 |
|
Cost Effectiveness, as measured by the
earnings-expenditure ratio, for overall F&B services, dropped slightly
from 6.7 per cent in 2003 to 6.5 per cent in 2004. Food caterers were
the most cost-effective, registering an earnings-expenditure ratio of
22.1 per cent in 2004 (Chart 4). |
|
 |
|
Average Annual Remuneration per Employee
was highest in the food catering services at $31,000 in 2004 (Table
2). In contrast, average remuneration was much lower at $9,800 for
fast food outlets, which employed a large number of part-timers. The
employment size expanded but average remuneration per employee
declined in 2004 for restaurants and fast food outlets. |
|
 |
|
Value Added per Worker was $19,200 for
the overall F&B services in 2004. Within the industry, food catering
services recorded the highest labour productivity of $53,600 (Chart
5). The other three groups recorded considerably lower value added
per worker of $12,300 to $20,100. |
|
 |
|
IV. PERFORMANCE BY FIRM SIZE |
|
Small and medium firms (ie less than 100
workers) comprised the majority (99.2 per cent) in the F&B services
industry (Table 3). They contributed 79.3 per cent of operating receipts
of the industry. However, large firms (100 workers & above) registered
higher profitability ratio at 13.4 per cent, compare to 2.6 per cent and
5.0 per cent for small and medium firms respectively. |
|
 |
|
More..... |
|
Source:
www.gov.sg Media Release 15 May 2006 |
|
 |
|
Important
Notice |
|
Our FrontPage
Editions are a historical record of our Web site and reflect
the changing of the times, and also of our Web site through
time. We do not and will not update the links and stories on
these FrontPages even if they have become obsolete. |
|
FrontPage Edition: Mon 15 May 2006
All rights reserved
