The World's 50 Best Restaurants, known simply as The 50, unveiled its latest ranking in Lima and put Asador Etxebarri at No. 1. The Atxondo spot in Spain's Basque Country, led by chef Bittor Arguinzoniz, centers its cooking on the grill.
On the menu: a charred beef chop, house-made chorizo, and even fresh mozzarella from the chef's own buffalo. Right behind, Gaggan in Bangkok, steered by chef Gaggan Anand, landed at No. 2 with progressive Indian food that blends French, Thai and Japanese touches. Alchemist in Copenhagen, headed by Rasmus Munk, took third.
Two notable regions rejoined the upper tier. India returned to the upper ranks after a gap since 2004, placing Masque at No. 26 and NAAR at No. 49 inside the top cohort. Mainland China returned after last appearing in 2021, placing Meet the Bund in Shanghai at No. 21 and Ru Yuan in Hangzhou at No. 36.
Ferran Adrià received the SevenRooms Icon Award. The chef became globally known for experimental methods at his now-closed El Bulli, and today he supports the El Bulli Foundation, a nonprofit focused on research and training in the culinary field.
The 50 has long been treated as a kingmaker that can shift reservations and revenues for restaurants that make it. But pushback is growing. Ana Roš of Hiša Franko in Slovenia, ranked 60th this year, wrote on Instagram that she would not fly to Lima, choosing instead to invest in "our guests, our team, our producers and the daily work of making the restaurant better." She said she had enjoyed a "vibrant community" around the awards and built many friendships, but argued that "over time, however, success within the ranking has come to depend increasingly on visibility within the system itself," warning that promotion can rival what happens in the kitchen.
Her Instagram post had topped 10,400 likes by Friday, drawing nods from leading chefs worldwide. "The reaction and the reach were unexpected," Roš told CNBC by email. "I did not write a post to provoke, but more as an eye-opener. And apparently a lot of people have the same perception as I do."
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Ivan Brehm, chef-owner of Michelin-starred Nouri in Singapore, told CNBC, "Guides and lists now shape the industry they claim to assess," noting they influence spending by diners, direct the flow of money, determine which chefs draw notice, and shape the goals of younger cooks. He added that this does not diminish "the brilliance of the restaurants on the list" but raises a question about what gets pushed aside and what behavior gets rewarded.
The 50 pushed back through a spokesperson, saying it does not have the remit to monitor restaurants' budgets or related activities. Its job, the spokesperson said, is to capture expert views on standout hospitality experiences by region or category, not to regulate, and the organization uses identical voting rules and principles in all markets.
Not everyone made the trip. Dave Pynt, chef-owner of Michelin-starred Burnt Ends in Singapore and the 2017 50 Best Chef's Choice Award winner, skipped Lima, calling it a lot of flight time for a brief stay and saying his time was better used with his team and guests. He added that when events are closer, he enjoys going because they are useful and a good chance to reconnect with industry peers.
The bottom line: lists like The 50 can redirect demand and, with it, revenue. That is why both the recognition and the critique matter to your portfolio if you have exposure to hospitality, travel or luxury experiences.
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