July 30, 2021

Cheers to that: Hospitality and Leisure sector showing steady signs of bouncing back

As some parts of the UK move out of the final stages of lockdown restrictions, recent figures taken from Barclays one million small business customers reveal that the hospitality and leisure sector is already showing steady signs of bouncing back, with turnover in the sector up by more than half (62 per cent) since some lockdown restrictions eased on April 12, when compared to the prior 12 weeks1.

Pubs and bars have seen a significant increase in revenue in the last three months, with turnover up almost 300 per cent (288 per cent). Hotels with restaurants have also seen more than a twofold increase in turnover (185 per cent), after restrictions eased.

Findings also reveal a continued positive long-term effect on take-away food shops and stalls, with turnover 5 per cent higher in the past 12 weeks.

The bank’s data shows positive signs for recovery for other sectors too, as overall business turnover in increased by 70 per cent in June 2021, when compared with the same period in 2019, pre-pandemic. Savanta’s UK Business Tracker has also revealed that more than three quarter of businesses (77 per cent) say that they are now confident in surviving the pandemic – up 5 per cent since April this year2.

Hannah Bernard, Head of Business Banking at Barclays, said: “The last year has been incredibly tough for all our business customers, with the pandemic testing their resilience more than ever before. Initial indicators from the last 12 weeks are really positive, and reveal that many hospitality businesses are starting to bounce back, with sporting events like the Euros and Wimbledon helping to boost turnover.

“However, we know that many businesses still have some way to go before they’re fully back on their feet and are back in financial health, and our relationship managers are primed to help with their recovery. Our number one priority over the next few months is to continue to help all businesses bounce back from the impact of this pandemic.”