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National News

Tighter tier system to cost hospitality sector up to 78bn

todayNovember 30, 2020 1

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Tighter tier system to cost hospitality sector up to £7.8bn

The tighter tiered system coming into force this week will stop 98% of England’s hospitality sector from doing business as usual at a cost of up to £7.8 billion, new research suggests.

Jobs site Caterer.com estimated that pent-up demand for meals and drinks could have delivered as much as £15.9 billion to the UK economy when the current lockdown ends on Wednesday.

A survey of more than 2,000 adults indicated that after four weeks at home, the public is eager to return to hospitality venues.

One in four respondents said they were planning to spend more than usual at hospitality venues, suggesting that a potential £5.1 billion could be spent on meals and a further £5.1 billion on drinks, if venues were allowed to trade fully, said the report.

While the return of customers would have delivered a much-needed festive boost for the struggling industry, much of the sector now faces crisis amid a tighter tiered system and tougher restrictions, said Caterer.com.

Published: by Radio NewsHub

Written by: YO1 Radio Web Team

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