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Casual Dining Cyprus Market

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CYPRUS MARKET COMPETITION ANALYSIS CASUAL DINNING

The casual dining category represents the highest percentage of food and beverage operations in Cyprus. This category includes casual dining chains, traditional Cyprus taverns, international cuisine restaurants, bar/restaurant operations (Irish bars), ethnic restaurants. During the last decade cafés have entered the casual dining market and managed to absorb a significant share by offering competitive prices. The majority of those outlets are family owned, however during the last decade many family businesses are expanding into bigger organizations with a more professional approach into the product, service and price. Some of those concepts even though they are not worldwide famous brands have managed to maintain high standards in food quality and service and are well profitable operations.
Cyprus Tourism Organization (CTO) is dealing mainly with the promotion of Cyprus as a touristic destination. At the same time, the CTO in cooperation with Health Authorities and Fire Department are enforcing strict quality standards regarding hygiene, health and safety, store design and operation. As a result Cyprus during the last 30 years has developed a food and beverage industry with premium quality standards for products and service.
Casual Dining Chains
This category, which is also analyzed on the next chapter, is international chains that are operating or will shortly operate in Cyprus. TGI Fridays holds the biggest share on this market. During the last three years Bennigan’s Grill & Tavern has been increasing the market share by operating three stores all around the island, and with plans for three more locations in 2013. Nando’s, even though is not a direct competitor due to the menu limitations, has the smallest share on that market. In 2012 Hard Rock Café will be opening its doors to the public in Nicosia. Due

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