Catering turnover increased by 2.1%

By: Trademagazin Date: 2022. 12. 13. 10:54

In October, the volume of catering turnover increased by 2.1% after the 3.2% drop in September, while its sales revenue increased by 29.7% as a result of significant price increases, despite the fact that the decrease in real incomes may have caused a drop in demand. while many caterers have announced the suspension of their activities in recent months.

A double-digit price increase of nearly 30% was inevitable

However, these may have been offset by the continued recovery of tourist traffic. The improvement in tourism also supports the balance of services and, through this, the improvement of the current account. The almost complete lifting of restrictions against the epidemic has definitely boosted European tourism, but the prospects are worsened by a more cautious attitude due to the war, and the drastic rise in energy and food prices, which can substantially impair purchasing power. Reception of guests from outside Europe may recover much more slowly. At the same time, the hospitality industry has faced many difficulties in the past period, on the one hand, due to the increased labor shortage, wages had to be increased significantly, while due to the skyrocketing energy and food prices, a double-digit price increase of almost 30% was inevitable.