The UK retail and hospitality sector has been one of the most impacted industries throughout the COVID-19 pandemic. The UK Hospitality Quarterly Tracker reported that sales dropped by 64% between April 2020 and March 2021, totalling an estimated £80.8 billion loss in revenue (CGA). Many businesses were unable to trade at all, causing almost 12,000 licensed premises to shut down and over 600,000 reported job losses.
The Local Government Association released a summary of the government’s commitment to support the hospitality industry in March 2021. The organisation highlighted how the closure and (potentially permanent) loss of key visitor attractions has had a significant impact on local hospitality businesses, specifically hotels and restaurants.
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UK hospitality sector suffers £80.8bn loss 4th May, 2021 by Nicola Carruthers
The UK hospitality industry has seen sales plummet by £80.8 billion (US$112bn) over the last 12 months, according to new data.
Bars and pubs across England will be allowed to reopen for indoor service in May 2021
Data from the UK Hospitality Quarterly Tracker with CGA reported sales from the start of April 2020 to the end of March 2021 dropped to £46bn (US$63.8bn), a decline of 64% from £126.8bn (US$175.8bn) for the previous 12 months.
UK Hospitality said the £80.8bn decrease was equivalent to £220m (US$305m) of sales lost every day, or more than £9m (US$12.5m) every hour.