Fastest growing Industry in the world. Hospitality!
According to a recent article from the American Culinary Federation publication Sizzle, Hospitality is the fastest growing Industry in the world. It’s really no wonder. World economies are recovering and new wealth is emerging in Asia and the Middle East. Culinary Education Programs are everywhere. Google ‘culinary arts programs’ and you’ll get nearly 2 million hits! There are a number of very good reasons for this phenomenon and why it’s a good choice for a career path.
Most of us have seen the culinary bar on a steady rise for a
a couple of decades. The choices for foodies in most cities have certainly expanded to fusion restaurants, vegan specialists, out of the way places dedicated to locally grown organic fare, artisan bread, and signature drinks. We’re all getting a bit more sophisticated about what we expect for our dining out dollar. Upscale dining is at least one place where celebrity and the tastes of the very wealthy actually do – happily — trickle down to the rest of us.
Ya gotta EAT, right? People on both sides of the kitchen door benefit from this fact. Hospitality and the restaurant sector provide all kinds of entry-level opportunities. A huge proportion of students — from high school through graduate school — start their working careers and make ends meet with a restaurant job. Some find they love it and end up sticking with it, honing skills and exploring the possibilities…some even becoming hospitality entrepreneurs, themselves.
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Another driver of the exponential growth is the rise of the Celebrity Chef and the popularity of cooking shows. Just think of all the cable cooking shows you’ve seen…even on public television stations. They’re not only fun and engaging, but they are also considered educational and a public service. We, humans, are pretty obsessed with food. World economies are on the mend and with new growth in emerging Asian economies and booming high-end destinations there and in the Middle East, more of us can afford to feed our obsession and demand only the very best.
From 1992 to 2005, for example, the number of chefs, cooks and kitchen workers jumped 38% — from 3 million chefs, cooks, and other kitchen workers — to over 4 million. New jobs appear as the industry grows more complex and all of these other developments require people in the business with experience, creativity, and new skills just to keep up.
Chefs have become more sophisticated in their thinking and specialized in their presentation. More is the operative word no matter where you look throughout the food service industry: more large organizations and chains, more managerial positions and division of labor, more test kitchens and innovations, more development of new foods, more women and minorities moving up the ladder in executive roles. Deloitte Financial and Investment Consultants, the Bureau of Labor Statistics and LCG Hospitality Staffing predict steady reliable growth of about 10% per year into the foreseeable future.
Looking for a bright financial future? Think Hospitality.