COVID-19’s impact on the restaurant industry

Detalhes bibliográficos
Autor(a) principal: Gomes, Conceição
Data de Publicação: 2022
Outros Autores: Malheiros, Cátia, Campos, Filipa, Santos, Luís Lima
Tipo de documento: Artigo
Idioma: eng
Título da fonte: Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos)
Texto Completo: http://hdl.handle.net/10400.8/8015
Resumo: The restaurant industry contributed to the creation of wealth and employment until the end of 2019, when it reached maximum values. However, with the COVID-19 pandemic in early 2020, this sector suffered a very serious economic and employment crisis. The analysis of this situation is imperative to mitigate the consequences for the restaurant industry and to prevent impacts in future crises. The main purpose of the present study is to compare the years 2019 and 2020, analyzing the profitability, payroll costs, headcount, and indebtedness of the restaurants, to verify the COVID-19 pandemic’s impact in Spain and Portugal. Quantitative research was applied, where a descriptive analysis and hypothesis testing were conducted. SABI database was the secondary data source used in this research. The results show that the COVID-19 pandemic has had an impact on profitability, efficiency, and indebtedness in the restaurant industry, being a generalized situation in both countries, in all regions except for Ceuta. The results also confirm the importance of this study for managers and academics since all the variables under study worsened with the COVID-19 pandemic. This study represents a contribution to managers and stakeholders in the restaurant sector by allowing the comparative evaluation of each restaurant with the average of the variables by location and the definition of proactive strategies. Practical implications are proposed to mitigate the effect not only of COVID-19 but also of other pandemics or economic crises that may arise in the future, preparing managers and stakeholders to adapt to change and promoting the financial sustainability of the restaurant industry. It is recommended to increase the disclosure of statistical indicators and financial ratios of free access, which allows the improvement of the analysis of different variables that are important for professionals in the restaurant industry.
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spelling COVID-19’s impact on the restaurant industryCOVID-19Restaurant industryProfitabilityPayroll costsHeadcountIndebtednessThe restaurant industry contributed to the creation of wealth and employment until the end of 2019, when it reached maximum values. However, with the COVID-19 pandemic in early 2020, this sector suffered a very serious economic and employment crisis. The analysis of this situation is imperative to mitigate the consequences for the restaurant industry and to prevent impacts in future crises. The main purpose of the present study is to compare the years 2019 and 2020, analyzing the profitability, payroll costs, headcount, and indebtedness of the restaurants, to verify the COVID-19 pandemic’s impact in Spain and Portugal. Quantitative research was applied, where a descriptive analysis and hypothesis testing were conducted. SABI database was the secondary data source used in this research. The results show that the COVID-19 pandemic has had an impact on profitability, efficiency, and indebtedness in the restaurant industry, being a generalized situation in both countries, in all regions except for Ceuta. The results also confirm the importance of this study for managers and academics since all the variables under study worsened with the COVID-19 pandemic. This study represents a contribution to managers and stakeholders in the restaurant sector by allowing the comparative evaluation of each restaurant with the average of the variables by location and the definition of proactive strategies. Practical implications are proposed to mitigate the effect not only of COVID-19 but also of other pandemics or economic crises that may arise in the future, preparing managers and stakeholders to adapt to change and promoting the financial sustainability of the restaurant industry. It is recommended to increase the disclosure of statistical indicators and financial ratios of free access, which allows the improvement of the analysis of different variables that are important for professionals in the restaurant industry.MDPIIC-OnlineGomes, ConceiçãoMalheiros, CátiaCampos, FilipaSantos, Luís Lima2023-01-17T16:29:34Z20222022-01-01T00:00:00Zinfo:eu-repo/semantics/publishedVersioninfo:eu-repo/semantics/articleapplication/pdfhttp://hdl.handle.net/10400.8/8015engGomes, C.; Malheiros, C.; Campos, F.; Lima Santos, L. COVID-19’s Impact on the Restaurant Industry. Sustainability 2022, 14, 11544. https://doi.org/10.3390/su1418115442071-105010.3390/su141811544info:eu-repo/semantics/openAccessreponame:Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos)instname:Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informaçãoinstacron:RCAAP2024-09-26T18:24:10Zoai:iconline.ipleiria.pt:10400.8/8015Portal AgregadorONGhttps://www.rcaap.pt/oai/openairemluisa.alvim@gmail.comopendoar:71602024-09-26T18:24:10Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) - Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informaçãofalse
dc.title.none.fl_str_mv COVID-19’s impact on the restaurant industry
title COVID-19’s impact on the restaurant industry
spellingShingle COVID-19’s impact on the restaurant industry
Gomes, Conceição
COVID-19
Restaurant industry
Profitability
Payroll costs
Headcount
Indebtedness
title_short COVID-19’s impact on the restaurant industry
title_full COVID-19’s impact on the restaurant industry
title_fullStr COVID-19’s impact on the restaurant industry
title_full_unstemmed COVID-19’s impact on the restaurant industry
title_sort COVID-19’s impact on the restaurant industry
author Gomes, Conceição
author_facet Gomes, Conceição
Malheiros, Cátia
Campos, Filipa
Santos, Luís Lima
author_role author
author2 Malheiros, Cátia
Campos, Filipa
Santos, Luís Lima
author2_role author
author
author
dc.contributor.none.fl_str_mv IC-Online
dc.contributor.author.fl_str_mv Gomes, Conceição
Malheiros, Cátia
Campos, Filipa
Santos, Luís Lima
dc.subject.por.fl_str_mv COVID-19
Restaurant industry
Profitability
Payroll costs
Headcount
Indebtedness
topic COVID-19
Restaurant industry
Profitability
Payroll costs
Headcount
Indebtedness
description The restaurant industry contributed to the creation of wealth and employment until the end of 2019, when it reached maximum values. However, with the COVID-19 pandemic in early 2020, this sector suffered a very serious economic and employment crisis. The analysis of this situation is imperative to mitigate the consequences for the restaurant industry and to prevent impacts in future crises. The main purpose of the present study is to compare the years 2019 and 2020, analyzing the profitability, payroll costs, headcount, and indebtedness of the restaurants, to verify the COVID-19 pandemic’s impact in Spain and Portugal. Quantitative research was applied, where a descriptive analysis and hypothesis testing were conducted. SABI database was the secondary data source used in this research. The results show that the COVID-19 pandemic has had an impact on profitability, efficiency, and indebtedness in the restaurant industry, being a generalized situation in both countries, in all regions except for Ceuta. The results also confirm the importance of this study for managers and academics since all the variables under study worsened with the COVID-19 pandemic. This study represents a contribution to managers and stakeholders in the restaurant sector by allowing the comparative evaluation of each restaurant with the average of the variables by location and the definition of proactive strategies. Practical implications are proposed to mitigate the effect not only of COVID-19 but also of other pandemics or economic crises that may arise in the future, preparing managers and stakeholders to adapt to change and promoting the financial sustainability of the restaurant industry. It is recommended to increase the disclosure of statistical indicators and financial ratios of free access, which allows the improvement of the analysis of different variables that are important for professionals in the restaurant industry.
publishDate 2022
dc.date.none.fl_str_mv 2022
2022-01-01T00:00:00Z
2023-01-17T16:29:34Z
dc.type.status.fl_str_mv info:eu-repo/semantics/publishedVersion
dc.type.driver.fl_str_mv info:eu-repo/semantics/article
format article
status_str publishedVersion
dc.identifier.uri.fl_str_mv http://hdl.handle.net/10400.8/8015
url http://hdl.handle.net/10400.8/8015
dc.language.iso.fl_str_mv eng
language eng
dc.relation.none.fl_str_mv Gomes, C.; Malheiros, C.; Campos, F.; Lima Santos, L. COVID-19’s Impact on the Restaurant Industry. Sustainability 2022, 14, 11544. https://doi.org/10.3390/su141811544
2071-1050
10.3390/su141811544
dc.rights.driver.fl_str_mv info:eu-repo/semantics/openAccess
eu_rights_str_mv openAccess
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dc.publisher.none.fl_str_mv MDPI
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instname:Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informação
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instname_str Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informação
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reponame_str Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos)
collection Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos)
repository.name.fl_str_mv Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) - Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informação
repository.mail.fl_str_mv mluisa.alvim@gmail.com
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