Eurostat data – The hospitality sector hit hard by recent covid-19 crisis and high energy prices

The hospitality sector recorded the highest increase in bankruptcies amongst businesses since the beginning of the COVID-19 pandemic.

This is one of the main outtakes from the latest statistics on business bankruptcies and new registrations published by Eurostat.

According to the provided data:

  • Compared to pre-pandemic Q4 2019 the number of bankruptcies in the accommodation and food services sector in Q4 2022 increased by 97.7%. This is the highest number among all covered sectors.
  • Comparing Q3 and Q4 2022, the accommodation and food services sector accounted for the second- highest increase in the number of bankruptcies (+39.4%) behind the transportation and storage sector.
  • Comparing 2021 to 2022 a trend of an increase in the registration of new businesses is also noticed however this increase does not match up with the number of notified bankruptcies.

The data showcases that the hospitality sector has been hit hard by the recent crisis, such as Covid-19 and high energy prices. HOTREC call on continued support for the hospitality sector.

Calendar

Mon
Tue
Wed
Thu
Fri
Sat
Sun
M
T
W
T
F
S
S
27
28
3
4
5
6
7
8
11
12
13
15
16
17
18
19
21
22
24
25
26
27
28
29
31
1
2
Meeting DG HOME + DG GROW: Ukrainian refugees
01/03/2023    
14:00 - 15:00
On 1 March 2023, HOTREC held a meeting with DG Home and DG GROW on the Ukrainian refugees topic.  Participants to the meeting European Commission [...]
Pact for Skills - coordination meeting
02/03/2023    
15:00 - 16:30
Main outcome of the meeting available
09 Mar
09/03/2023    
10:00 - 12:00
Presentation and draft minutes are now available.
European Platform Undeclared Work - Ukraine refugees sub-group
09/03/2023    
10:00
Participants:  Participants of ELA (European Labour Authority), labour inspectors from Member States, European Federation of Employers; HOTREC (Marta Machado) Agenda Subgroup on displaced persons and [...]
10 Mar
10/03/2023    
11:00 - 12:00
ExCom Video Conference Link ExCom draft agenda - 10 March 2023 Draft Minutes of ExCom meeting of 25 January 2023 Antitrust Statement HOTREC Statutes HOTRE [...]
14 Mar
14/03/2023    
10:00 - 12:00
We are delighted to invite you to the Social Affairs Working Group meeting, taking place on 14 March 2023, online. Please register by using this [...]
Sectoral Social Dialogue meeting
20/03/2023    
10:00 - 13:00
We are delighted to invite you to the next Sectoral Social Dialogue (SSD) meeting, which will be hybrid, taking place on 20 March 2023 (from [...]
23 Mar
23/03/2023    
10:00 - 12:00
SAVE THE DATE: 23 March Exact timing and agenda TBC
Online Series: 90 Minutes to Close The Loop
30/03/2023    
14:00 - 15:30
Online Series: 90 Minutes to Close The Loop Episode 9 – broadcast live on the 30th of March 2023 at 14:00 to 15:30 Roadmap for [...]
Events on 01/03/2023
Events on 02/03/2023
Events on 10/03/2023
Events on 14/03/2023
14 Mar
Events on 20/03/2023
Events on 30/03/2023