The Asian Restaurant Industry in Oslo: Current Status, Development, and Opportunities

The Asian restaurant industry in Oslo is an important part of the city's gastronomic landscape, with 60 registered companies in the municipality. The industry has shown both strength and instability over time, with a market value of over NOK 527 million in 2024 and a decline of 42.2% in 2025. One bankruptcy has been registered in the industry, indicating a certain level of risk. At the same time, there are several large companies with high revenues and profit margins, suggesting potential for growth and development. The industry is most active in Oslo City Center, with a dominant organizational form in the form of AS companies.

Economic trends

The Asian restaurant industry in Oslo has had a complex development over the past few years. Key figures show a market value of NOK 527.5 million in 2024, with a decline of 42.2% compared to 2025. In 2022, the industry had a market value of NOK 588.3 million, showing a growth of 34.5% from 2021. Employee numbers have also shown variations, with a peak of 1,030 employees in 2020 and a decline to 691 employees in 2025. This indicates that the industry has been affected by external factors such as the pandemic and economic fluctuations.

Annual development

• 2016–2019: Strong growth in both revenue and number of employees, with an increase of +20.5% in revenue from 2018 to 2019.
• 2020–2021: Sharp decline due to the pandemic, with a reduction of -31.9% in revenue in 2020 and a partial recovery in 2021.
• 2022–2025: New growth in 2022, but a sharp decline in 2025, with -42.2% in revenue compared to 2024.

Major companies in the industry

The industry in Oslo includes 60 companies, 16 of which are listed with detailed financial data. Some of the most notable companies include:

Organizational forms

Most companies in the industry are registered as AS companies (31 companies, 742 employees), while there are also ENK companies (4 companies, 19 employees). AS companies have a higher average revenue and profit margins compared to ENK companies.

Distribution of activity in Oslo

All 35 companies in the industry are registered in Oslo, with a concentration in the city's central areas. There are no specific sub-areas or neighborhoods that stand out as dominant, but there is a clear connection to Oslo City Center. This indicates that the Asian restaurant industry in Oslo is most active in the city's main center, where there is high competition and a large customer base.

Bankruptcies and dynamics in the industry

One bankruptcy has been registered in the industry in Oslo: Hakuna Matata Etiopisk Resturant As on Møllergata 38A. The company had a revenue of NOK 3.9 million and 0 employees at the time of bankruptcy. This indicates a certain level of instability in the industry, but there are no further bankruptcy registrations in the data. It is important to note that some companies have negative EBITDA values, which may indicate economic challenges for certain businesses.

Outlook for entrepreneurs

For entrepreneurs considering starting an Asian restaurant in Oslo, the data show a mix of opportunities and challenges. The industry has proven to be resilient, with a growth of +34.5% in 2022, but there is also a sharp decline of -42.2% in 2025. This indicates that market conditions can vary strongly, and it is important to be aware of cyclical variations.

Key points for entrepreneurs

• Location: Oslo City Center is an important market area, but competition is high.
• Differentiation: Companies with high profit margins (such as Thai Market Oslo As with a 21% EBITDA margin) have proven to be more stable.
• Financing: It is important to secure good financing, especially in an industry with variations in revenue and profit margins.
• Bankruptcy risk: One bankruptcy has been registered, indicating a certain level of risk, but there are no further cases in the data.

Comparison with the broader industry

The Asian restaurant industry is part of the broader restaurant/café industry in Oslo, which has 2,401 companies and a market value of NOK 7,981.4 million in 2025. The broader industry has a more stable development, with a decline of -23.9% in 2025, compared to -42.2% in the Asian restaurant industry. This indicates that the Asian restaurant industry is more exposed to market variations.

Peer companies in the broader industry

Some of the most notable companies in the broader industry include:

These companies have higher revenues and profit margins compared to many Asian restaurants, showing that there are variations within the broader industry.

The Asian restaurant industry in Oslo has both opportunities and challenges. With a market value of over NOK 527 million in 2024 and a growth of +34.5% in 2022, the industry shows potential for growth. At the same time, it is important to be aware of cyclical variations, which were evident in 2025 with a decline of -42.2%. Entrepreneurs should carefully consider location, differentiation, and financing, and it may be profitable to collaborate with local sites such as SmartGrunder to find optimal addresses and develop strategies to ensure stability and growth in the industry.