Beyond Currency

29 January 2021 - Hospitality sector lost £200m per day in 2020


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"The hospitality sector in the UK is a vital piece of several other parts of the economy and it has been by far the worst affected by the lockdowns that have been off and on over the past year.
There have been criticisms over lack of forward planning and guidance from Westminster and it appears every announcement has contained another issue for this sector.
Supply, staffing, overheads, and forced closures have all led to losses amounting to close to £200 million a day and will contribute to further to a contraction in the economy over the fourth quarter of 2020 and the first of this year.
The Chancellor has been lobbied by several business groups to be made a special case where certain rules have hit them particularly hard but pubs, bars, and restaurants face devastation which will see businesses become unviable with large numbers of staff currently furloughed losing their jobs.
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Beyond Currency Market Commentary:
Aims to provide deep insights into the political and economic events worldwide that can cause currencies to change and how this can affect your FX Exposure.
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