Retail in Asia

In Sectors

McDonald’s eyes greater restaurant expansion in Asia

McDonald’s has set its sights on Asia, with the hope of adding more than 1,500 new restaurants in China, Hong Kong and South Korea within the next five years, the popular fast food chain announced on Thursday.

The company already has more than 2,800 of their restaurants located in the three markets put together – the majority of which are company-owned – however, the US firm hopes the additional outlets will help drive McDonald’s future growth initiatives.

The global food retailer has over 36,000 locations in more than 100 countries worldwide. In its largest market, the US, McDonald’s has over 14,000 restaurants and generates some 32 percent of its global revenue, according to its website.

(Source: CNBC)