In Georgia, where restaurants have been open for three weeks, bookings are still down by 84%
COVID-19 HAS infected every sector of the global economy. But perhaps none has been hit as hard as the restaurant industry. Lockdowns have forced many eateries to close; even in places without stay-at-home orders in place, few have dared to dine out. In America, restaurant spending has fallen by 51% between the start of the year and the end of April, according to the Census Bureau. Employment in the sector, which historically provided one in twelve jobs, has dropped by nearly half.
The pain has been felt everywhere . Many consumers have opted to stay home even in the absence of lockdown orders. The state of Georgia, for example, shut down non-essential businesses only on March 24th. But according to OpenTable, which tracks the number of diners being seated at 20,000 restaurants, by then reservations in the state had already fallen by 99.99% compared with a year earlier. This experience was not unique to the Peach State.
Now that restrictions have eased, restaurant bookings are still far below normal. . In Florida reservations are down by 80%, in Texas by 75%, and in South Carolina by 67%, even two weeks after stay-at-home orders were lifted. American restaurateurs have enjoyed a steady increase in customers in recent years, as spending on eating out has for the first time outpaced expenditure on food at home.
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