Hybrid Work May Pose Challenge to Bars and Restaurants in Parts of the Tenth Federal Reserve District

John McCoy

Economic Bulletin, 2024, 4

Abstract: As remote or hybrid work continues to be popular, office attendance has fallen. Less in-person work may increase office vacancy rates and reduce foot traffic to other businesses located in office-dense areas. Compared with the national average, most states in the Tenth Federal Reserve District have a lower share of office space in office-dense areas, but some of these areas have a higher share of bars and restaurants. The outlook for these businesses may depend on how foot traffic within office-dense areas evolves.

Keywords: remote work; vacancies; Office buildings; Tenth Federal Reserve District (search for similar items in EconPapers)
Date: 2024
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