TWENTY to 30 per cent down and fighting every minute – sounds like a version of the musical Rent’s theme song, but it’s not Seasons of Love that food and beverage businesses are singing. Rather, it’s a refrain that pretty much sums up 2023 for the industry, as it emerges from a volatile year that has seen diners disappear to greener dining pastures abroad while wallets at home shrink in tandem.

Despite fillips such as Formula 1 and other big events, the worrying dip that high-end restaurants started to experience from around April this year – after a dizzying post-Covid rebound – has continued. Chefs and restaurateurs are not even cautiously optimistic like before, but in full battle/survival mode as they head into the new year.

Ending the year on a whimper