British on-trade lost over £100bn during pandemic
Covid-19 pandemic costed £100.2bn in trade to UK hospitality industry. The statistics come from the latest edition of the UK Hospitality Quarterly Tracker in association with CGA report.
In the 15 months to June 2019, the UK on-trade sector generated £164.6 billion. But since the start of the pandemic, sales felt drastically in the same period until June 2021.
In the 12 months to the end of June 2021, hospitality sales fell to £59.8 billion, a decrease of £72 billion compared to the same period ending June 2019.
Another declines in sales during the second quarter of 2020, which marked the start of on-trade closures in the UK, brings total sales in the past 15 months down to £64.4bn, which means £100.2bn less than in the same 15-month period ending June 2019.
CEO of UK Hospitality-Kate Nicholls, said: “These figures confirm in stark terms the huge impacts on the hospitality sector during Covid. Furthermore, while we hoped to be close to normal trading from 19 July, in reality hospitality businesses instead remain impeded by the ongoing ‘pingdemic’ crisis, the pre-existing staffing shortage and the looming shadow of vaccine passports over some of the sector.”
The most recent quarterly data has been noted to show a "significant improvement" from the most recent year-on-year data as the restrictions on Covid-19 have eased across the UK. Estimated sales in the three months to the end of June 2021 reached £18.4bn (US$25.7bn) – notably higher than the £4.6bn (US$6.4bn) for the same quarter in 2020.
Nicholls also said: “History tells us that hospitality can be a leading economic force in driving an economic recovery but to do so in current conditions and with huge debt accruals, it will need further support to push it over the line and back to pre-Covid trading.
Source: The Spirits Business