Bars and restaurants in Brazil have the best performance of the year in July
Bars and restaurants recorded the best performance of the year in July. However, according to Abrasel (Brazilian Association of Bars and Restaurants), the number of establishments with losses remains a concern.
The number of bars and restaurants that made a profit increased from 35% to 37% in July. Those that ended the month with a loss decreased from 29% to 26%.
Abrasel representative José Camargo says the sector is optimistic about the coming months, but that a large number of establishments with losses and accumulated debts is still a concern.
Of the businesses that recorded losses in July, 75% say that inflation is the main reason for the negative result.
On the other hand, the association estimates that the sector could hire up to 100 thousand new workers by the end of the year to take advantage of the World Cup and Christmas and New Year celebrations.
Of the companies surveyed in the poll, 35% said they plan to hire new employees in the future, and 11% said they intend to lay off employees.
The Abrasel survey polled owners of 1,484 bars or restaurants across Brazil.
With information from Poder360
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