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Economy

INSTAT: Expenditures on bars and restaurants reached a record in 2019

  • 3/22/2021 3:49 PM
INSTAT: Expenditures on bars and restaurants reached a record in 2019

In 2019, INSTAT data show that the number of restaurants increased by 26%, reaching about 4 thousand, while that of bars shrank by 18.7%.

Although in total, the number of bars and restaurants in the country fell by 10.7%, their revenues, or expenditures of Albanians, reached a record level in 2019 of ALL51.8 billion, or about 420 million euros, or 150 euros / capita . According to INSTAT, compared to 5 or 6 years ago, spending on cafes and restaurants has doubled.

In total, bars and restaurants employ about 45,000 people in 2019, according to INSTAT, down 4% year-on-year. The average profit rate for this activity is about 11.2%, however it is estimated that the sector has high informality.

In 2020 the bars and restaurants sector has suffered a major setback, initially due to several months of quarantine in the first half of the year and then due to restrictions on evening hours. Short-term statistics of INSTAT show that the volume index of Bar-Restaurants marked a strong decline of 55% in the second quarter, in the quarantine period, while in the third and fourth, the contraction was 25% and 19% respectively.

/Klara Ruci/