Romanian HoReCa posts 30% lower turnover in Jan-Oct

The turnover volume index of the Romanian companies that deliver services to households compressed by one third (-32.9%) in January-October compared to the same period of 2019, the statistics office INS reported.

The steepest decline was in the tour agencies' segment, which halved revenues.

The turnover volume index - which reflects the aggregated revenues expressed in constant prices (real terms) - plunged by 31.3% in HoReCa, the segment with the highest contribution to the overall household services market.

The Government recently passed an emergency ordinance for providing grants that cover 20% of the drop in HoReCa companies' revenues between 2019 and 2020.

The barbershops and hairdressing salons saw a lower business decline - only 7.7% for the first ten months of the year.

Their activity was already 23% stronger in October compared to the same month of 2019.

The gambling and betting operators reported a major decline in their activity - 35.2% on average for the ten months of the year - as they were also forced to close shop after the second wave of the pandemic hit.

The car sales, reported by INS along with the household services index, contracted by 15% year-on-year in Jan-Oct, while the sales of motorcycles nearly doubled (+85%).

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