COVID-19 wipes out 87% of turnover for accommodation and food services

NSO data on turnover from service activities shows various Maltese businesses lost over 27% of their business during the COVID-19 lockdown

Restaurants reopened a week ago as more restrictions were lifted in the wake of a controlled pandemic
Restaurants reopened a week ago as more restrictions were lifted in the wake of a controlled pandemic

The turnover from selected services activities has decreased by a massive 27.1% over the same quarter in 2019, as a result of reducing consumption and working hours from the COVID-19 pandemic.

Seasonally adjusted services turnover went down by 27.3 per cent over the previous quarter.

The NSO data was compiled from 900 questionnaires to businesses, requesting information on turnover, employment, wages and salaries, comparing these levels with previous years.

Decreases in turnover were recorded in the accommodation and food service activities (87.1 per cent), administrative and support service activities (49.3 per cent), transportation and storage (47.6 per cent), real estate activities (46.5 per cent), motor trade (37.3 per cent), wholesale trade (21.8 per cent), retail trade (13.5 per cent) and professional, scientifi c and technical activities (8.5 per cent).

Conversely, an increase of 14.8 per cent was registered in the information and communication activities. Employment, gross wages and salaries, and hours worked declined by 7.8, 5.2 and 10.8 per cent respectively over the corresponding quarter in 2019.

When compared to the previous quarter, the seasonally adjusted services turnover index recorded a decrease of 27.3 per cent. Lower turnover was recorded in the accommodation and food service activities (94.3 per cent), transportation and storage (46.7 per cent), administrative and support service activities (44.0 per cent), motor trade (33.0 per cent), real estate activities (29.3 per cent), wholesale trade (24.2 per cent), retail trade (15.4 per cent) and professional, scientifi c and technical activities (15.1 per cent).

On the other hand, an increase of 3.2 per cent was registered in the information and communication activities. The seasonally adjusted employment and gross wages and salaries and hours worked) decreased by 9.8, 9.4 and 12.3 per cent respectively.