Despite Challenges in 2023, Chefs Are Optimistic As They Look to New Year

The James Beard Foundation is proud to share our 2023 Industry Report, which summarizes and analyzes the findings of the 2023 James Beard Foundation Fall Industry Survey. The survey ran between October 23 and November 13, receiving 253 responses from chefs throughout the country, with the greatest representation from California, New York, and Texas. Respondents collectively serve more than 14 million covers annually.  

The survey findings reveal that 2023 has been a year of progress for the restaurant industry overall. In its most stable year since 2019, the industry achieved deeper engagement among diners and strides in sustainable and equitable working conditions for staff. Yet, rising costs continue to impact both restaurant operations and the public’s dining out frequency.

Read on for the 2023 Industry Report’s key findings and download the full report to learn more.  

Rising food and labor costs remain top concerns
Rising food costs remain the number one concern for chefs nationwide as they head into 2024, according to 49 percent of survey respondents in 2023. Other issues impacting day-to-day operations include rising labor costs, inability to find staff to hire, and rising non-food costs.

Increased costs significantly impacted menu content and pricing
Eighty-eight percent of respondents reported an increase in menu prices in the last six months. Seventy-six percent reported average menu prices that are 10-25 percent higher than in 2022.

The need to attract or retain employees affected wages but not operating hours
Fifty-two percent of respondents reported raising wages between 10-25 percent to attract or retain employees. However, the majority of respondents didn’t cut down on hours of operations as a result of labor costs or staffing constraints, which was in line with 2022 survey findings.

Looking ahead, despite ongoing industry challenges and economic inflation, restaurant owners are largely going into 2024 with a sense of optimism. Respondents cited a number of reasons, including distance from the pandemic shutdown, an increase in consumer education, a drive to create better working conditions and benefits, and advocacy efforts in support of the industry.  

The James Beard Foundation is proud of our continued work to celebrate and support the people behind America’s food culture, while pushing for new standards in the restaurant industry to create a future where all have the opportunity to thrive. Through our upcoming Financial Literacy Workshop for Women and ongoing programs like the Women’s Leadership Programs, Chef Bootcamp for Policy and Change, Legacy Network, and scholarships, we’re working every day to provide opportunities that touch every step of a culinary career and equip industry workers with the tools to meet and overcome challenges along the way.

Download the 2023 Industry Report to learn more about the state of the restaurant industry today.

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Yasmin Hariri is branded content manager at the James Beard Foundation.