THE IMPACT OF LOCKDOWN POLICY ON THE FUNCTIONING OF THE ACCOMMODATION AND FOOD SERVICE SECTOR IN POLAND Cover Image

WPŁYW POLITYKI LOCKDOWNÓW NA FUNKCJONOWANIE BRANŻY ZAKWATEROWANIE I GASTRONOMIA W POLSCE
THE IMPACT OF LOCKDOWN POLICY ON THE FUNCTIONING OF THE ACCOMMODATION AND FOOD SERVICE SECTOR IN POLAND

Author(s): Karol Orzeszak
Subject(s): National Economy, Health and medicine and law, Socio-Economic Research
Published by: Uniwersytet Gdański
Keywords: public debt; GDP; business finance; Covid - 19; economic interventionism; pandemic effects;

Summary/Abstract: The aim of the article is to describe the impact of the lockdown policy on enterprises in the accommodation and food service sector. Research questions focus on the issue of: to what extent did the temporary limitation of economic activity affect the current operations and financial results of enterprises in the analyzed industry. To achieve the assumed goal, the following methods were used: analysis and criticism of the literature, methods of logical inference, case studies, financial analysis, as well as graphic and tabular techniques. The lockdown policy has had a number of negative consequences for world economies. There has been a decline in GDP, an increase in the level of debt in relation to GDP, and the number of hungry and undernourished people has increased. Restrictions in running a business particularly affected the accommodation and catering section, which in 2020 recorded a 31% decrease in revenues in Poland. Case studies of individual enterprises in the industry confirm the difficult situation of economic entities: decrease in profit and revenues, increase in debt. Hence, state aid was necessary to counteract the effects of the lockdown policy pursued.

  • Issue Year: 13/2022
  • Issue No: 1
  • Page Range: 39-57
  • Page Count: 19
  • Language: Polish