Restaurant Industry Covid Struggles: Is The Worst Over?
The pandemic has been exceptionally hard on the restaurant industry. Many establishments barely held up in 2020 and hoped to recover in 2021. Much of their money is made during the holidays. But the Omicron variant outbreak may put a damper on those plans. The figures below are of Opentable and track the number of diners in 2021 each day compared to dinners in 2019. Based on data for the past 6 months, it appears that restaurants in most countries except Australia and the United States United, have recovered. The number of diners has started to decline in recent weeks, but so far it has not dropped like in 2020.
In the United States, not all regions are the same. Business has never been better in Florida and Texas, but it has never fully recovered in New York and California. New York is also showing a small decline in recent days. It is not known if it will get worse as its largest city faces another epidemic.
Source: Open table
Interested in real economic prospects? Want to stay ahead of the competition? Every Wednesday e21 sends out a short email with exclusive e21 commentary and the latest market news and updates across the web. Register for the e21 Weekly eBrief.