Black year for hotel industry as bankruptcies up
13 January 2005
BRUSSELS – The Belgian hotel and catering industry had a black year in 2004, new figures have revealed.
The sector experienced a 2.4 percent bankruptcy rate, reports the Belga news agency.
In addition, the number of activities stopped because of a lack of business was four times higher.
Currently 3,500 businesses from the Horeca union, which represents the industry, disappear every year.
Cafes run by independent business people are often the first to suffer.
The number of hotel and catering bankruptcies is twice as high as any other sector of the economy.
Job losses are smaller proportionately as fewer people work in the industry despite its intensive nature.
[Copyright Expatica 2005]
Subject: Belgian news