19/08/2010 - London restaurant growth 'surging'
London's restaurant industry has displayed "extraordinary resilience" through the recession, with annual growth rates among the highest ever, a new report says.
Last year 140 new restaurants opened in the capital, the third best figure since 2000, according to the Harden's London Restaurants handbook. The 72 which closed during the period represented a "moderate rate historically", it said.
Peter Harden, the guide's co-editor, said: "When we first launched the guide in 1991, restaurants were closing left, right and centre. Due to soaring interest rates, people with mortgages just couldn't afford to go out.
"It's been very different this time. Interest rates have stayed so low that people in stable employment seem to find eating out as affordable, if not more affordable than ever."
The guide, which goes on sale next month, listed the average price of a dinner for one at £41.75.
Mr Harden said the growth during the economic downturn indicated the "restaurant scene's surprisingly rude health", but there were major challenges ahead.
"This year's feeble price inflation shows just how hard the trade is having to work to keep attracting custom," he said.
Copyright © Press Association 2010
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