Restaurant industry one of worst-hit sectors by COVID-19: Brand Finance
Other industries projected to be severely affected include aviation and hotels.
The restaurant industry will be one of the worst-hit sectors by COVID-19, with effects to be felt well until 2021, according to Brand Finance.
In its COVID-19 impact report, the company says restaurants are part of a ‘high-impact’ tier of sectors that may face up to a 20% loss in brand value. Other industries in the same category include aviation, beers, leisure & tourism and hotels.
"The COVID-19 pandemic is now a major global health threat and its impact on global markets is very real. Worldwide, brands across every sector need to brace themselves for the Coronavirus to massively affect their business activities, supply chain and revenues in a way that eclipses the 2003 SARS outbreak. The effects will be felt well into 2021,” Brand Finance CEO David Haigh said in a media release.
