Turnover in the hospitality and leisure sector has increased by more than half (62%) since lockdown restrictions eased in April, according to figures released by Barclays.
Pubs and bars have seen a significant increase in revenue in the last three months, with turnover up almost 300%. Hotels with restaurants have also seen more than a twofold increase in turnover (185%), after restrictions eased.
Research among Barclays one million small business customers also reveal a continued positive long-term effect on takeaway food shops and stalls, with turnover 5% 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% in June 2021, when compared with the same period in 2019, pre-pandemic.
Further research accessed by Barclays reveals that more than three quarter of businesses say that they are now confident in surviving the pandemic – up 5% since April this year.
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.”