New round of COVID pulls down restaurant business for 2 years in a row
Date 03 May 2021 time 1:07 p.m.
The new round of COVID pulls the restaurant business in 2021, only about 3.82 – 3.94 billion baht
The KASIKORN RESEARCH CENTER estimates that the restaurant business must face another round of challenges. When COVID came back in a third wave, on April 29, 2021, the government announced the elevation of 6 provinces to the highest and strict control areas (dark red), including Bangkok, Chonburi, Chiang Mai, Nonthaburi, Pathum Thani and Samut Prakan. No eating inside the store is prohibited. Including limit the opening and closing time in the control area And maximum control area It came into effect on May 1, 2021, which inevitably affected the revenue of the restaurant business. And this wave of outbreaks Moreover, some restaurant operators who face lower income, lack of liquidity and credit burden. Which creates challenges in survival. Especially small-medium enterprises
The Kasikorn Research Center Assessed the impact of the COVID-19 outbreak To the restaurant business in 2021 as follows: The total value of the restaurant business in 2021 shrinks 5.6% to 2.6% continuously from the previous year. And this is the second consecutive year of contraction
When the COVID-19 outbreak Directly affect the restaurant business Consumer behavior modification By avoiding sitting and eating inside the store or socializing To reduce the risk of infection In addition, the long-running outbreak of COVID has affected restaurant operators. Especially small-medium restaurants, which are expected to account for at least 80% of the businesses that have been impacted from the past year and therefore rely on external working capital This was reflected in the accelerated credit outstanding of the service business during the previous year.
Restaurant business pictures for the rest of this year There is still high uncertainty. The risk of a resurgence of COVID continues. From various situations Kasikorn Research Center Reduced its forecast for the restaurant business in 2021 by looking at the value of the restaurant business should be at 3.82 – 3.94 billion baht or a contraction of 5.6 percent to 2.6 percent from the previous year. (Down from the original forecast of 4.1 hundred billion baht), which is a contraction for the second consecutive year
“The epidemic of COVID-19” This new round has happened. Has severely affected the entrepreneurs in the restaurant business. It shifts from a revenue challenge to a lack of liquidity and survivability. Especially small and medium entrepreneurs, ”said the Kasikorn Research Center.