Asador Etxebarri Takes No. 1 as The 50 Hosts First Lima Ceremony

Asador Etxebarri, the Basque grill restaurant run by chef Victor Arguinzoniz in the village of Axpe, claimed the No. 1 spot at The 50's Best Restaurants 2026 ceremony in Lima, Peru — the first time the event has been staged in that country. The win came after a decade of consistent top-10 placements, including No. 2 last year.

The organization behind The World's 50 Best has rebranded as simply The 50, folding its coverage of restaurants, bars, hotels, vineyards and online guides into one identity. Lima stepped in as host after Abu Dhabi, the originally announced city, was dropped amid what the organizer described only as uncertainties. The ceremony drew award-winning chefs, restaurant owners, media and traveling diners from around the world.

What do the winners say the awards are for?

The Etxebarri team framed the award as an exposure tool for their region. "We have great respect for the organization and the work it does in giving restaurants like ours international exposure," they said. "We feel fortunate to have been given this platform to share the Basque region and its cuisine with the rest of the world."

One winner from the Asia region put the value in escapism. "We forget the problems, and we unite. The world is divided, but these kinds of events unite us. Different colors, different cuisine, different cultures come together. In the end, food wins."

Another respondent stressed community over competition, arguing the rankings are secondary to the gathering itself: "The rankings don't really matter much to me. It's being with everyone, spending time with legends, chefs that I've looked up to all my life, and being on the same platform with them is the biggest win I can get."

Several winners used the platform for national and municipal marketing. One Thai representative called the list "a very global award and known worldwide" and described their appearance as "a small step to promote Thai cuisine." A Hangzhou delegation said: "We are here to represent the stories of Hangzhou, China. I hope that by attending, we can communicate our city's culture and encourage people to appreciate it." A Chinese bar winner said they wanted "everyone, no matter where they are from, to understand and appreciate Chinese food."

A Dubai- and India-based winner referenced recent disruption directly, alluding to "what it's like to be in situations of uncertainty" experienced in Dubai and other countries months earlier, and said showing up "gives so much motivation back to both cities I represent."

Do the economics survive the sentiment?

What the testimonials do not address is measurable: reservation velocity, staffing, or the revenue lift a top ranking delivers. Etxebarri is described as one of the most coveted reservations in the world, which suggests demand is not the constraint there. No winner cited a number, a booking metric or a business outcome, and the article reports none — a gap worth noting when the industry's own participants call F&B "a hard industry" in the same breath as their celebration.

One respondent did offer an industry-wide defense: "When you talk about relevance, it is not about the rankings; it is about celebrating the industry. The F&B industry is a hard industry, so given what's happening in the world, it's important to celebrate the hard work, the great people, the countries, and the cuisines."

A final voice called attendance a tradition and a learning exercise, citing the chance "to learn from our peers and discover many interesting things along the way."

The 50 has now unified its restaurant, bar, hotel and vineyard properties under one brand, and Lima's first-time hosting — salvaged from an Abu Dhabi cancellation — signals a willingness to move the flagship event on short notice. Whether the rebrand and the rhetoric translate into durable commercial value for winners remains, on this evidence, unproven.