Survey: Most Canadian restaurants could take ‘a year or more’ to recover
A new survey from Restaurants Canada has found that the majority of Canadian restaurants are still struggling to make ends meet, and will be feeling the pain of COVID-19 for months to come. In fact, the restaurant sector is apparently on track to lose $44.8B in annual sales when compared to 2019.
Let’s break things down a little. Of the respondents, 44% percent thought that it would take anywhere from 6 months to a year to return to normal. Meanwhile, 36% expected a year to 18 months. And finally, a whopping 20% were projecting things to take 18 months or more.
Do you know what
$1 MILLION in revenue
from ONE RESTAURANT
contributes to Canada’s economy in ONE YEAR?
When restaurants thrive, our communities thrive!
From farm to fork, there’s a lot that goes into every meal.
— Restaurants Canada (@RestaurantsCA) July 1, 2020
As a result of this, and considering the economic kickback of the restaurant industry in Canada, Restaurants Canada hopes to receive more help from the Canadian government. We can’t really blame them, as most of the respondents are using every financial tool available to stay afloat.
What can you do? That’s easy, order some delicious food from a local restaurant the next time it’s in the budget! If you’d like to check out the survey in full, click here.