THE vital hospitality and retail sectors in Spain face losses of up to €80 billion this year and the possibility of over 200,000 job losses in bars and restaurants. According to data just published by Anged, an employer’s association. Director Javier Millan-Astary said that they faced the largest loss across Spain’s various work sectors as they were the first to close and will likely be among the last to open.
The only commerce sector to benefit at this stage are supermarkets who have seen a 25% rise in sales, although their costs have risen due to transportation issues etc. Clothing shops have seen a 70% drop in sales and home technology 50%. A lack of foreign visitors to Spain this Easter and summer will inevitably hit the service sector further. The hospitality sector is expected to see a 40% drop in turnover in 2020 according to the report. Many of these are small businesses and have limited liquidity, often depending on ongoing sales to just meet the cost of their bills.