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Café and restaurant revenue up 18% in Lithuania
BC, Vilnius, 19.09.2018.
Print version
Print versionRestaurants and cafes received almost 18 percent more in revenue in January-July from the same period last year, according to the Verslo Zinios daily writes LETA/BNS,
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SEB bank's chief economist Tadas Povilauskas told the daily that higher prices were the key factor behind the rise but even excluding it, revenue also grew 10 percent, compared to a rise of just 1.7% in the whole year of 2017.
He estimates that the annual increase in revenue will just as significant as in the first eight months of this year.
According to Povilauskas, revenue also grew due to higher salaries as the average salary was 9.5% higher in the second quarter y-o-y. Besides, foreign tourists spent more nights in Lithuania (up 7.1% in the first half), which also increased revenue.
Finally, balmy weather since April also had positive impact on cafes, he said.
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