The confidence in the HoReCa industry is at its lowest level since 1989, and the lack of predictability is once again hitting Romanian entrepreneurs and employees, warns the Federation of Employers in the Hospitality Industry (FIO).

No candidates show up even for positions paid net wages of RON 5,000 (EUR 1,000), the association claims, Wall-street.ro reported.

The number of employees in the hotel and restaurant industry has decreased during 2020 from 186,000 to 150,000, a decrease of 19% compared to the previous year.

The cumulative level of net losses in HoReCa increased by 220% in 2020 to RON 2.3 bln (EUR 460 mln), compared to RON 710 mln in 2019, according to data available from the Ministry of Finance.

The figure accounts for the aggregate losses of the companies ending 2020 with a loss.

The net profit registered by the companies from the HoReCa industry that ended 2020 in black decreased by 46.5% to RON 2.49 bln in 2020, compared to RON 4.65 bln in 2019.

(Photo: Pixabay)

andrei@romania-insider.com