- Home » Expat News » Bar and restaurant-owning expats in Spain suffer since economy crisis
Bar and restaurant-owning expats in Spain suffer since economy crisis
| Published: | 21 Apr at 6 PM |
Want to get involved?
Become a Featured Expat and take our interview.
Become a Local Expert and contribute articles.
Get in touch today!
Become a Local Expert and contribute articles.
Get in touch today!
Since the onset of the Spanish economy crisis, bar and restaurant owners in the Iberian country have been losing out to supermarkets, with wine purchased in the latter having gone up by six per cent.
The Bank of Spain’s macroeconomic report has revealed that spending on the majority of products has gone down, but spirits and liqueurs have suffered the most, with a decline of 40 per cent. Although people are still spending on products they enjoy, it seems they are now looking to be careful about where they buy them.
This spells bad news for bar and restaurant owners in Spain, with certain regions home to a number of foreign owners from the UK and other European nations. Many Spaniards, and even expatriates who have retired to the Mediterranean country, are opting to eat and drink in their own homes rather than wine and dine on the town and they rein in their spending.
Meanwhile, there has also been a rise in spending on products such as tea, coffee and cocoa in supermarkets, with the data showing an average increase of around 30 per cent. The figures show that many of the people who enjoyed their morning coffee in the cafes are now also choosing to continue with their coffee but just at home instead.
For local and expatriate bar, restaurant and café owners, the work now is to tempt these consumers back into their establishment as the Spanish economy picks up once more.
The Bank of Spain’s macroeconomic report has revealed that spending on the majority of products has gone down, but spirits and liqueurs have suffered the most, with a decline of 40 per cent. Although people are still spending on products they enjoy, it seems they are now looking to be careful about where they buy them.
This spells bad news for bar and restaurant owners in Spain, with certain regions home to a number of foreign owners from the UK and other European nations. Many Spaniards, and even expatriates who have retired to the Mediterranean country, are opting to eat and drink in their own homes rather than wine and dine on the town and they rein in their spending.
Meanwhile, there has also been a rise in spending on products such as tea, coffee and cocoa in supermarkets, with the data showing an average increase of around 30 per cent. The figures show that many of the people who enjoyed their morning coffee in the cafes are now also choosing to continue with their coffee but just at home instead.
For local and expatriate bar, restaurant and café owners, the work now is to tempt these consumers back into their establishment as the Spanish economy picks up once more.
Comments » No published comments just yet for this article...
Feel free to have your say on this item. Go on... be the first!
