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COVID-19’s impact on the restaurant industry

2022Journal article Open access
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dc.contributor.authorGomes, Conceição
dc.contributor.authorMalheiros, Cátia
dc.contributor.authorCampos, Filipa
dc.contributor.authorSantos, Luís Lima
dc.date.accessioned2023-01-17T16:29:34Z
dc.date.available2023-01-17T16:29:34Z
dc.date.issued2022
dc.description.abstractThe 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.pt_PT
dc.description.versioninfo:eu-repo/semantics/publishedVersionpt_PT
dc.identifier.citationGomes, 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/su141811544pt_PT
dc.identifier.doi10.3390/su141811544pt_PT
dc.identifier.issn2071-1050
dc.identifier.urihttp://hdl.handle.net/10400.8/8015
dc.language.isoengpt_PT
dc.peerreviewedyespt_PT
dc.publisherMDPIpt_PT
dc.relationCentre for Tourism Research, Development and Innovation
dc.relation.publisherversionhttps://www.mdpi.com/2071-1050/14/18/11544pt_PT
dc.rights.urihttp://creativecommons.org/licenses/by/4.0/pt_PT
dc.subjectCOVID-19pt_PT
dc.subjectRestaurant industrypt_PT
dc.subjectProfitabilitypt_PT
dc.subjectPayroll costspt_PT
dc.subjectHeadcountpt_PT
dc.subjectIndebtednesspt_PT
dc.titleCOVID-19’s impact on the restaurant industrypt_PT
dc.typejournal article
dspace.entity.typePublication
oaire.awardTitleCentre for Tourism Research, Development and Innovation
oaire.awardURIinfo:eu-repo/grantAgreement/FCT/6817 - DCRRNI ID/UIDB%2F04470%2F2020/PT
oaire.citation.issue18pt_PT
oaire.citation.titleSustainabilitypt_PT
oaire.citation.volume14pt_PT
oaire.fundingStream6817 - DCRRNI ID
person.familyNameGomes
person.familyNameMalheiros
person.familyNameCampos
person.familyNameLima Santos
person.givenNameConceição
person.givenNameCátia
person.givenNameFilipa Alexandra Gomes de
person.givenNameLuís
person.identifier1269004
person.identifier.ciencia-idDA19-611B-AFAB
person.identifier.ciencia-id6811-92A0-D316
person.identifier.ciencia-idFA10-3BC8-DBCC
person.identifier.ciencia-id1A1E-830E-DF42
person.identifier.orcid0000-0001-5715-8384
person.identifier.orcid0000-0002-7674-4036
person.identifier.orcid0000-0002-1954-3940
person.identifier.orcid0000-0002-6652-7601
person.identifier.ridF-4413-2017
person.identifier.scopus-author-id57196741324
project.funder.identifierhttp://doi.org/10.13039/501100001871
project.funder.nameFundação para a Ciência e a Tecnologia
rcaap.rightsopenAccesspt_PT
rcaap.typearticlept_PT
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