Asador Etxebarri in Atxondo, Spain, is the world’s top restaurant.

That’s according to The World’s 50 Best Restaurants, which announced results on Wednesday evening in Lima, Peru. Asador Etxebarri, helmed by chef Bittor Arguinzoniz, sits in Basque Country and features grilled items like a charred beef chop, fresh mozzarella from the chef’s buffalo, or house-made chorizo.

Chef Gaggan Anand’s Gaggan in Bangkok, which combines progressive Indian cuisine with French, Thai and Japanese influences, was No. 2, and Alchemist in Copenhagen, from head chef Rasmus Munk, took the third spot.

India returned to the top 50 for the first time since 2004, with Masque at No. 26 and NAAR at No. 49. Mainland China made the list for the first time since 2021, with Meet the Bund in Shanghai at No. 21 and Ru Yuan in Hangzhou at No. 36.

Chef-restaurateur Ferran Adrià, who achieved worldwide renown with his avant-garde techniques at his now-closed restaurant El Bulli, received the SevenRooms Icon Award. Adria continues to support culinary research and education through the nonprofit El Bulli Foundation.

The 50, as the umbrella organization is called, creates lists of restaurants, bars, hotels and vineyards that it ranks as top in the world or region. It draws on industry networks to help rank establishments.

For years, The 50 has been seen as a kingmaker and an opportunity for restaurants and bars worldwide. Being “on the list,” many chefs and other restaurant-industry insiders have said, makes a huge difference for reservations and revenues.

But there’s been increased scrutiny of the contest as well. Chef Ana Roš of Hiša Franko in Slovenia, which was ranked 60th this year, posted on Instagram that she wouldn’t be attending the Lima ceremony, saying she would rather invest resources “in our guests, our team, our producers and the daily work of making the restaurant better.”

While stressing that she had enjoyed a “vibrant community” at the 50 Best and made many friends from it, she said “over time, however, success within the ranking has come to depend increasingly on visibility within the system itself,” and that promotion of one’s restaurant risked becoming as important as the work happening inside it.

She appears not to have been alone. Many of the world’s top chefs consider awards and lists to be a tricky balance with their work at their establishment.

“Guides and lists now shape the industry they claim to assess,” Ivan Brehm, chef-owner of Michelin-starred Nouri in Singapore, told CNBC. “Their judgments influence where diners spend money, where investment flows, which chefs get attention and what younger cooks learn to aspire to.”

He added of the 50 that “none of this denies the brilliance of the restaurants on the list or the opportunities it has created for all of us. The question is what it sidelines and what it incentivizes.”

Roš’ Instagram post had more than 10,400 likes as of Friday, including from top chefs worldwide.

“The reaction and the reach were unexpected”…