Restaurants Industry Recovery Challenges from COVID-19 Amidst the Russo-Ukrainian War

Emmanuel Ndhlovu and Kaitano Dube
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Emmanuel Ndhlovu: Vaal University of Technology
Kaitano Dube: Vaal University of Technology

Chapter Chapter 18 in COVID-19, Tourist Destinations and Prospects for Recovery, 2023, pp 337-356 from Springer

Abstract: Abstract There was an anticipation that the advent of the COVID-19 vaccine would trigger a massive recovery in the tourism and hospitality sector. However, the post-COVID-19 vaccine discovery has been marred with several other global challenges ranging from extreme weather events to massive inflation and political crisis in Europe, which could scuttle the recovery process. Drawing from secondary and archival data sources and abstraction, this chapter explores the state of global restaurant industry recovery since February 2022 and identifies the challenges to the industry’s prospects for recovery. The study found that while there are some individual restaurants that have registered some growth, possibly owing to their resilience and their capacity to tap from technological innovations, overall, the restaurant industry has had some challenges due to the Russo-Ukrainian war. The war has resulted in the plunging of restaurant stocks again; thus, only a few sampled companies are showing resilience to the shock imposed by the war. The study notes that in as much as the sector is resilient from the pandemic, a robust recovery strategy pathway, which can transcend both the pandemic and the Russo-Ukrainian war, is needed.

Keywords: COVID-19; Global challenges; Restaurant; Hospitality industry; Tourism recovery; War (search for similar items in EconPapers)
Date: 2023
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Persistent link: https://EconPapers.repec.org/RePEc:spr:sprchp:978-3-031-22257-3_18

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DOI: 10.1007/978-3-031-22257-3_18

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