WASHINGTON (dpa-AFX) - U.S. Restaurant Industry sales were $240 billion below estimates that were issued before pandemic struck.
The National Restaurant Association released its State of the Restaurant Industry report for 2021. Restaurant and foodservice industry sales were around $659 billion, which is $240 billion less that guidance of $899 billion. Sales in 2019 was $863 billion.
As of December 1, 2020, more than 110,000 eating and drinking places were closed for business temporarily, or for good, the negative effect of Covid-19 pandemic. Majority of the restaurants that were closed in 2020 were well-established businesses in operation for at least for 16 years, with 16% of them been open for at least 30 years.
The eating and drinking place sector finished 2020 nearly 2.5 million jobs below its pre-coronavirus level, the report says.
'As we approach the one-year mark of pandemic-related dining restrictions, we know that virtually every restaurant in every community has been impacted. Amid an ever-changing landscape of dining restrictions and widespread closures, restaurants found ways to adapt, keep people employed, and safely serve our guests,' said Tom Bene?, President & CEO of the National Restaurant Association.
Restaurant industry were one of the hardest hit industry during the pandemic, and still continues to struggle to reach to pre-coronavirus levels.
The report estimates restaurant sales to post double-digit growth in 2021.
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