HoReCa market to rebound this year, research shows
The value of the Polish hotel, restaurant and catering market (HoReCa), which plummeted by 31 percent last year due to the coronavirus pandemic, will rebound by some 14 percent this year and reach PLN 25.9 billion (EUR 5.69 billion), a report has shown.
The researcher PMR published a report on Tuesday containing an analysis of the market and growth forecasts for 2021-26.
Despite an expected fourth wave of the coronavirus, the HoReCa market should rebound this year from the huge crisis of 2020 and add 14 percent to its value, according to PMR.
However, this will not make up for the market's losses in the pandemic year of 2020.
For example, the restaurant market shrank by 30.9 percent last year to PLN 22.7 billion (EUR 4.98 billion), which compares to the market's 2019 value of PLN 32.8 billion (EUR 7.20 billion).
The 14-percent growth of the HoReCa market this year is a base scenario that assumes that there will not be yet another hard lockdown for restaurants, but possible customer limits have been taken into account.