Tuesday , July 7 2020
Home / le News / 40% of Swiss restaurants unsure of survival under current restrictions

40% of Swiss restaurants unsure of survival under current restrictions

Summary:
40% of restaurants that have reopened in Switzerland fear they won’t survive, according to a recent industry survey by Gastro Suisse. © Rtdeleon04 | Dreamstime.comWhen Switzerland’s federal government allowed restaurants to reopen on 11 May 2020 around three quarters did. Many of those that didn’t, decided they wouldn’t be able to turn a profit operating with the required space and hygiene requirements. Those that did open report revenues on average 60% lower than over the same period in 2019. 90% are running at a loss. The biggest drivers of low revenue are the requirements on table spacing and the four person group limit. A majority of restaurants were forced to reduce seating by between 35% and 65% Without further easing of restrictions, numerous establishments will close

Topics:
Investec considers the following as important: , , , ,

This could be interesting, too:

Investec writes Swiss government forecasts 2021 deficit but no tax hikes

Investec writes Swiss salaries rise faster than inflation for the first time in 2 years

Investec writes Swiss retail sales up 30% in May after COVID-19 measures eased

Investec writes Coronavirus: Swiss government makes masks compulsory on public transport

40% of restaurants that have reopened in Switzerland fear they won’t survive, according to a recent industry survey by Gastro Suisse.

© Rtdeleon04 | Dreamstime.com

When Switzerland’s federal government allowed restaurants to reopen on 11 May 2020 around three quarters did. Many of those that didn’t, decided they wouldn’t be able to turn a profit operating with the required space and hygiene requirements.

Those that did open report revenues on average 60% lower than over the same period in 2019. 90% are running at a loss. The biggest drivers of low revenue are the requirements on table spacing and the four person group limit. A majority of restaurants were forced to reduce seating by between 35% and 65%

Without further easing of restrictions, numerous establishments will close again in June because trade isn’t profitable, said Casimir Platzer.

On 6 June 2020, Switzerland is set to ease some of the restrictions on restaurants. The four person group limit will be lifted.

Switzerland’s hotel and restaurant sector employ around 260,000 people, about 5% of the nations workers.

The survey questioned 3,172 people between 11 and 18 May 2020.

More on this:
Gastro Suisse press release (in French) – Take a 5 minute French test now

For more stories like this on Switzerland follow us on Facebook and Twitter.

About Investec
Investec
Investec is a distinctive Specialist Bank and Asset Manager. We provide a diverse range of financial products and services to our niche client base.

Leave a Reply

Your email address will not be published. Required fields are marked *