Bars and restaurants bear the brunt of hybrid and remote work, leading to reduced foot traffic and lost revenue.
Restaurants emerge as a new ally in the return-to-office battle between remote workers and employers, according to recent reports. As hybrid and remote work continues to be a trend in the professional world, cities are experiencing billions of dollars in lost revenue. Restaurants and bars are hit particularly hard, with Monday and Friday being the busiest days for dining out before the pandemic.
A new study from WFH Research found that major cities are losing between $2,000 and $5,000 for each employee working either hybrid or remotely. New York City has the most to lose, with a drop in spending of $4,661 per person.
The loss of foot traffic has led some bars and restaurants in cities like New York, Los Angeles, and Atlanta to reduce hours or even close their doors. This trend is not just limited to big cities but is also affecting once vibrant downtown areas across the country.