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The pandemic has changed the way tourism is done in the world, leaving many local restaurants and accommodation dependent on tourism in a difficult economic situation, highlighting the difficulty of staying with the doors open.
In a survey by the Portuguese Association of Hotels, Restaurants and Related (AHRESP), 38% of food and beverage companies admitted that they are considering moving towards insolvency, since “the revenues generated and expected will not allow the usual costs are assumed by the normal operation of their activity “, it indicates.
Although the Portuguese chose to do domestic tourism, it did not arrive and the companies point out that the financial situation “will worsen significantly with the decrease of the Portuguese festival” during the low season, as well as the less use of terraces as autumn approaches. .
According to the AHRESP survey, “the invoicing for the month of August was devastating, with 70% of the companies registering annual turnover losses of more than 40%”, with more than 9% of the companies surveyed defaulting on the payment of the salaries of August to employees and 10% only partially did so.
In economic difficulties, 14% of the companies surveyed have already made layoffs since the State of Emergency came into force on March 19, and more than 24% of companies assume the uncertainty of maintaining all jobs until the end of year.
The scenario in the tourist accommodation sector is also alarming. During the month of August, about 12% of the companies did not register occupation, while more than 16% indicated that they had a maximum occupation of 10%. Likewise, 22% of the companies surveyed by AHRESP indicated an annual drop of more than 90% in the occupancy rate, since in the summer months, in normal season, the rates are close to 100%.
According to the study, tourism companies are not enthusiastic about the month of September. Approximately “24% of companies do not expect an occupancy rate higher than 10%, and more than 17% of companies expect zero occupancy,” indicates AHRESP. Thus, in this scenario, “16% of companies are considering filing for bankruptcy because they cannot afford all the usual costs of their activity”.
More than 19% of companies were unable to pay employee wages in August and 8% were only able to pay them partially. With this reality, around 16% of companies assume that they will not be able to keep all jobs at the end of the year.
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