Reasons to Love the Takeaway Industry Right Now
When people think of the industries that are having very positive impacts on the economy, it is unlikely that the takeaway industry will be one of the first to come to mind. However, after going through reports and news regarding the industry and the activities of its major players, it will likely dawn on you that the takeaway industry is actually contributing a significant amount to the growth and development of the economy in a way that only a few others can boast of.
The takeaway and fast food restaurant segments have been performing very well over the past few years. In spite of the fact that customers tend to shift to more expensive restaurant meals during periods of economic growth, the preference for lower-priced, on-the-go food has remained steady. The response of the takeaway industry to the trend has been to expand production and marketing capacity to reach and serve more customers, especially using online channels where customers can order their meals right from their smartphones.
Job Creation Across the Country
The takeaway industry has always been a major employer, due to the hands-on nature of its activities. Many thousands of people have been employed in the industry for medium to long lengths of time, providing themselves and their families with reliable income. Apart from the staff that were already employed, the industry has been seeing a significant rise in the numbers of new hires, highlighting the importance of the takeaway sector to the Irish economy. Many thousands of people have sought and gotten jobs in the industry over the last couple of years, meaning that the industry is playing a role in reducing unemployment in the country. The employments have been a mix of full-time and part-time jobs, but even when adjusted for the proportions of full-time to part-time, the hires still boil down to a significant number of full-time equivalent (FTE) jobs. Apart from the direct jobs, there have been an even larger number of jobs created indirectly, mostly in the supply chain, including other industries that produce goods and services that are essential for the functioning of the takeaway industry itself.
Gross Value Added to the Economy
Just as the activities of the takeaway industry have resulted in increased employment in the industry itself and other adjunct ones, there has also been a positive impact on the economy in the value added to it through purchases of goods and services using money from the takeaway industry. Due to the increase in demand and subsequent increase in production activities to increase supply, the takeaway industry has been spending more money to buy raw materials and pay for goods and services that are needed for its business processes. Apart from the activities of the companies, employees have also been contributing to the economy in their spending on the goods and services of other industries.