McDonald’s Targets Asia’s Beef Eaters With 20% Spending Boost

BusinessWeek:

McDonald’s Corp., the world’s largest restaurant company, may boost investment in Asia by at least 20 percent this year as consumer spending recovers, moving into “beef eater” markets such as South Korea.

The seller of Big Macs will invest $415 million in Asia, the Middle East and Africa this year to add 520 restaurants, Tim Fenton, head of the chain’s regional business, said in an interview in Hong Kong. Spending in the region was about $350 million in 2009, he said.

“McDonald’s is really the only company with the best portfolio of markets around the world,” Joel Silverstein, president of Hong Kong-based restaurant consultant East West Hospitality Group Ltd., said in phone interview. “In Asia, they are still growing.” Read more.

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