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The Hospitality and Accommodation Sector in Europe

By CreditMan Tuesday, July 6, 2021

The Hospitality and Accommodation Sector in Europe Q2 2021 by Baker Ing

The Hospitality and Accommodation (H&A) sector is going through a profound shock worldwide because of the COVID crisis.

Restrictions across the globe have imposed a significant drop in activity. In Europe, the sector's turnover decreased by 50% in 2020, reducing 20% of its jobs. Although all countries were affected, smaller economies open to tourism were the most impacted, such as Croatia, Malta and Cyprus. Bigger countries where the tourism industry is a key sector of the economy, like Portugal, Greece and Spain, have also been affected, although the sector's crisis could be contained without bringing down the whole country's economy.

Baker Ing have produced an economic report which provides a thorough look at both the effects of COVID-19 and Brexit.

To view the report in full click here