k 2022

Effects of Inflation on Gastronomic Establishments.

BOTLÍKOVÁ, Milena

Basic information

Original name

Effects of Inflation on Gastronomic Establishments.

Authors

BOTLÍKOVÁ, Milena

Edition

22th International scientific conference „Globalization and its socio-economic consequences 2022“, 2022

Other information

Language

English

Type of outcome

Prezentace na konferencích

Field of Study

50204 Business and management

Country of publisher

Slovakia

Confidentiality degree

není předmětem státního či obchodního tajemství

References:

Organization unit

Faculty of Philosophy and Science in Opava

ISBN

978-80-8154-332-6

Keywords (in Czech)

gastronomie; inflace; Česká republika; poptávka

Keywords in English

gastronomy; inflation; Czech Republic; demand

Tags

International impact, Reviewed
Změněno: 25/2/2023 17:13, Ing. Milena Botlíková, Ph.D.

Abstract

V originále

Research background: The previous two summers, i.e., the summers of 2020 and 2021, were not very favourable for tourism. According to the media and researchers, the global Covid-19 pandemic has hit tourism the hardest of all industries. After the forced closure of tourist businesses and countries, the war in Ukraine has hit the global economy, bringing many problems to the global world. Currently, the gastronomy sector, as one of the components of the tourism industry, faces not only a lack of qualified labour but also an energy crisis and rising inflation, which fundamentally affect the competitiveness of businesses and the demand for gastronomic services. After the initial positive development after the pandemic, due to inflation, the hospitality services market is once again in trouble, and this development can be liquidated for many businesses. Purpose of the article: The purpose of this article is to analyse the development of factors that influence the activity of gastronomic services in the Czech Republic, primarily in the context of the development of the price level and then the connection between the development of inflation and the number of visitors to restaurant establishments. Methods: The research results will be based on the comparison of hard data, which will be processed using mathematical-statistical data. The basis for the analysis and comparison was quarterly data for the period 2019– 2022 from the Eurostat database, the Czech Statistical Office, etc. Furthermore, the conclusions will be supported by primary research clarifying attitudes towards restaurant attendance at a time of increasing inflation. Findings & Value added: Although there is an increase in sales in gastronomy, it is clear that this increase is caused by an increase in prices. Increasing consumer prices in the hospitality industry and the financial burden of meeting basic needs lead to a decrease in demand for restaurant services. The decrease in attendance is also the result of the formation of new habits that were already formed during the global Covid pandemic.