Uncertainty about business continuity in the hotel industry has increased

In November, 71 percent of all businesses expected to survive for at least one year under current economic conditions; 4 percent are expected to survive six months to one year and 3 percent are expected to survive three months to six months. 1 percent of companies are expected to survive for up to three months. 21 percent of the entrepreneurs could not give an estimate of the continuity of their business. These percentages are largely the same as in May 2022.

Confidence in survival lowest in the hotel industry

In November, 52 percent of companies in the hotel industry expected to exist for at least another year. In May, it was still 59 percent. Hospitality firms’ confidence that they will survive at least a year is the lowest of any industry, with the sharpest drop since May. Entrepreneurs within culture, sport and leisure, car and retail trade as well as rental and other business services also had clearly less confidence in November than in May. In information and communication, confidence in survival was higher than in May.