08-13-2024, 04:53 PM
Ehhhh...? Small restaurants have a pretty high chance of failure, something like 1 in 3 don't last a year (it's hard to track it). It's especially tricky given the precarious macroeconomics taking place at the moment. People are broke, costs are high, wages are stagnant, everything is expensive, the stock market is just waiting to implode. Comparing Waterloo Region to London - one of the top cities for food on the planet - is skewed. London is an incredibly wealthy place with millions of people concentrated in one spot. It's much easier to operate a restaurant there, but it's still very hard.
I can see tons of our local ones failing in the coming years. It kind of reminds me of around 2010, when Middle Eastern food was becoming popular due to emigration during the Arab Spring. Lots of places popped up, then went bust. I can see Indian places slowly losing business and closing, especially with (hopefully) caps now being placed on the amount of immigrants and students that have been dumped in the country en masse. It won't be great for the local economy.
I can see tons of our local ones failing in the coming years. It kind of reminds me of around 2010, when Middle Eastern food was becoming popular due to emigration during the Arab Spring. Lots of places popped up, then went bust. I can see Indian places slowly losing business and closing, especially with (hopefully) caps now being placed on the amount of immigrants and students that have been dumped in the country en masse. It won't be great for the local economy.