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Restaurants in Italy: over 37 billion Euros and 40% of annual revenue lost in 2020

2020, Italian restaurateurs’ annus horribilis, ended with losses amounting to 37.7 billion Euros (40% of the sector’s entire annual revenue). The data analysed by the FIPE (Italian Federation of Bars and Catering) and the business association Confcommercio have demonstrated that the hardest blow to the sector came from the closures in November and December 2020, during which some establishments’ revenue fell to 20% of the norm. Just in the final three months of 2020, losses exceeded 14 billion Euros (a 57.1% decline), surpassing those of the first lockdown. Large cities, especially centres of art with substantial international tourism, registered losses over 80%.
In light of these unexpected figures and the new restrictive measures, the FIPE, Confcommercio and labour unions have asked the Minister of Economic Development, Stefano Patuanelli, to meet them urgently and collaborate on an organic plan of action for businesses and service employees. (fipe.it)

07/01/2021