COVID-19 cripples global restaurant and hospitality industry

ABSTRACT

The restaurant and hospitality industries are crucial socio-economic sectors that contribute immensely to the global economy. However, these sectors are vulnerable and sensitive to natural hazards such as the COVID-19 pandemic and any resultant economic downturns. This study investigates the impact of COVID-19 on the global restaurant industry using data from OpenTable and other sources. The study found that sit-in guests dropped to zero in many countries as governments across the world instituted social distancing initiatives, movement restrictions and lockdowns. COVID-19 also led to an unprecedented loss of employment and revenue, resulting in millions of jobs and billions of dollars in potential revenue lost. The work recommends extra-ordinary financial and other support measures for the sector. It further recommends a raft of safety and health protocols as the industry gradually reopens.

KEYWORDS:

• Hospitality industry
• COVID-19
• restaurants
• tourism industry
• coronavirus

Disclosure statement

No potential conflict of interest was reported by the author(s).