Gloomy outlook for hotels and restaurants

01.05.2020 - 09:30
Aktuelt
Gloomy outlook for hotels and restaurants
Faroese hotels will see an 80-90% decline in visitor numbers this year, new analysis suggests
Hotel Føroyar
 

After years with significant revenue growth, the Faroese tourism industry was going from strength to strength, with a projected annual revenue of DKK 1.5 billion in 2025.

But due to the corona pandemic, the industry has suddenly gone from being a key element of the national economy to potentially reducing the Faroese GDP by up to DKK 800 million in 2020.

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This is one of the conclusions of a report by auditing firm Deloitte, commissioned by Betri bank.

The report also suggests that the Faroese rescue packages introduced to protect businesses during the corona crisis are not only relatively modest compared to the other Nordic nations; it is also doubtful whether they can ensure that the Faroese tourism industry can recover financially from this crisis.

The Faroese corona lockdown was imposed on 12 March. According to Statistics Faroe Islands, 4,228 overnight stays in hotels were registered in March 2020. In March 2019, this number was 10,376, and in 2018 it was 11,391.

 

Translated by prosa.fo

 
Nýggjastu sendingar í ÚV
Týsdag 14. juli
Nón 14. juli 2020
111378
Týsdag 14. juli
KÍ flongdir á Tórsvølli
111372
Týsdag 14. juli
Góðan morgun Føroyar 14.07.2020
111342
Mánadag 13. juli
Umhvørvið og eg - endurnýtsla
111343
Nýggjastu sendingar í SV
Týsdag 14. juli
3-2
111388
Leygardag 11. juli
Video: 5mf dreingir, Fjarðastevna 2020
111287
Leygardag 11. juli
Video: 5mf kvinnur, Fjarðastevna 2020
111285
Leygardag 11. juli
Video: 10mf, Fjarðastevna 2020
111283