More restaurants uncertain about their continued existence

More and more restaurants, cafes, pubs, and other businesses in the hospitality industry are worried about their continued existence. In November, only 52 percent expected to still operate in a year, compared to 59 percent in May. A third said their survival depends on whether this year’s unprecedented price increases would continue, Statistics Netherlands reported.

Of all Dutch businesses, 71 percent expected to be able to survive for at least a year under the current economic conditions - about the same as in May. Only 1 percent said they’d likely last three months, but probably not more than that.

In addition to the hospitality sector, entrepreneurs in culture, sports and recreation, car and retail trade, and rental and other business services were also less confident in their survival in November than in May.

Over a third of hospitality businesses said that the price increases of energy and raw materials play a decisive role in their assessment of their company’s survival. The same is true for over a quarter of entrepreneurs in the industry and the car and retail trade.

Of all Dutch businesses, 22 percent said that price increases play a decisive role in their survival. 63 percent said it played a part but did not determine the expectations of their continued existence.