European Hospitality Sector Experiences Unprecedented Levels of Brankruptcies
Eurostat data shows that ever since the outbreak of the COVID-19 pandemic, the hospitality sector in Europe has seen elevated levels of bankruptcies, culminating in Q2 2023. Compared to other verticals such as the ICT industry, the hospitality sector was especially hard hit by the restrictive policies implemented by governments to tame the spread of the virus.
Photo by Statista
Eurostat data shows that ever since the outbreak of the COVID-19 pandemic, the hospitality sector in Europe has seen elevated levels of bankruptcies, culminating in Q2 2023. Compared to other verticals such as the ICT industry, the hospitality sector was especially hard hit by the restrictive policies implemented by governments to tame the spread of the virus.