55% of horeca businesses paid less rent or benefited from deferrals
Share article:
Share article:

55% of horeca businesses paid less rent or benefited from deferrals

Credit: Belga

Around 55% of hospitality industry companies renting commercial property have not paid their rent in full or have benefited from deferrals, according to a new survey by the Economic Risk Management Group (ERMG).

The proportion of companies in this situation reaches about 35% for non-medical contact professions, non-food retail, the arts, entertainment and recreation sector and travel agencies, according to this survey carried out last week by several employers’ organisations.

This survey, part of a series since March 2020 to assess the impact of Covid-19 on economic activity and the financial health of companies, also shows that Belgian companies reported a drop of around 10% in their turnover in February, a level comparable to that of January.

As in previous surveys, however, the self-employed and smaller companies report a much greater impact of the coronavirus crisis on turnover than larger companies. The self-employed report an average loss of almost 42% compared to normal, while the loss averages 7% for the largest companies.

Related News


At sector level, the situation related to turnover is comparable to that observed in the January survey and is strongly contrasted. For almost all business sectors, the decline in turnover compared with normal is either unchanged or slightly down.

On the other hand, for the sectors hardest hit, the situation remains particularly worrying, according to the ERMG. The arts, entertainment and recreation services sector recorded a loss in sales of over 75% for the 12th consecutive month.

The hotel and catering sector and the transport and logistics sector continue to show losses in turnover of 70% and 28% respectively. Finally, the non-medical contact professions and travel agencies have lost 80% and 92% of their turnover respectively.

Finally, the survey confirms that the self-employed and smaller companies, as well as the most severely affected sectors, report serious difficulties in obtaining bank credit.

The Brussels Times

Latest news

Increase in number of people ‘asking King for mercy’ through royal pardons
More and more people living in Belgium have been seeking royal pardons, mainly for fines, largely as a result of it now being possible to send in ...
England now accepting cheaper Covid tests from fully vaccinated travellers
Fully vaccinated travellers who enter England from non-red countries will only be required to book a lateral flow test to take following their ...
Re-introducing face masks indoors considered as Covid-19 situation worsens
Belgium's council of ministers will hold an emergency meeting on Monday to discuss the worsening epidemiological situation, and reintroducing face ...
Federal museums to receive €2.9 million booster shot
Federal museums will receive an additional €2.9 million in support from the government for the fiscal year 2021, of which the first payouts will be ...
European Parliament emphasises healthy food and animal welfare in EU Farm to Fork Strategy
The European Parliament adopted this week a resolution on the EU Farm to Fork Strategy calling for a fair, healthy and environmentally-friendly food ...
Threats of strike action could affect Brussels’ STIB network from Monday
Brussels public transport operator STIB's trams, buses and metros could be affected from Monday 25 October onwards as the union representing the ...
Number of international adoptions in Belgium continues to drop
The number of regulated international adoptions authorised by Belgium further dropped in 2020, continuing an ongoing decreasing trend. Last ...
Disaster drill with emergency services held at Brussels Airport
Around 300 people took part in a disaster drill held was organised on Saturday by Brussels Airport in collaboration with external emergency services ...
Austria presents bill to legalise euthanasia
Austria’s government on Saturday presented its proposals for legalising assisted suicide, in response to a Constitutional Court ruling that the ...
Brussels’ Museum Night Fever draws in some 12,000 visitors
Some 12,000 participants took part in the 14th edition of Museum Night Fever in Brussels, with the 29 participating museums filled to the maximum ...
Relaunch of 10,000 steps campaign to get Flemish people moving
The Flemish government is breathing new life into its 10,000 steps campaign to get people in the region moving after a recent survey found that a ...
‘No scientific basis’ for giving everyone third dose, vaccine expert says
The head of Belgium's Vaccination Taskforce has argued that there is not enough scientific evidence to support the Flemish government's decision to ...