The Ghana Hotels Association says it is not surprised about the outstanding growth of the Hotels and Restaurants sub-sector despite recovering only half-way, after the further easing of Covid-19 restrictions.
The sub-sector which was one of the badly affected during the peak of the Coronavirus pandemic recorded the 3rd highest growth rate of 18.7% in the economy in the second quarter of this year, according to the Ghana Statistical Service.
This signal positive times ahead.
Speaking to Joy Business, D. Edward Ackah Nyamikeh Junior said members of the hotels and restaurants sub-sector are impressed with their operations so far, despite some challenges.
“I’m not surprised at all. I’ll rather say I’m impressed about the performance of hotels and restaurants in the second quarter of 2021, even though we still have a long way to catch up with pre-Covid-19 performance.”
To him, he is so impressed because the hotels and restaurants took advantage of the further easing of restrictions in the Ghanaian economy to grow their businesses during some festive period.
“I’m impressed because hotels and restaurants took advantage of the removal of some restrictions associated with conferences and restaurants as well as the festivities that featured in the second quarter such as the Easter, Mother’s Day, Father’s Day, Muslim Holiday and so forth. That quarter also saw some reduction in the fear and panic associated with Covid-19 until the recent third wave”, he explained.
“So for me, the improved performance in the second quarter speaks of the resilience of the hotel sector and therefore the need for the necessary support to get the best from the sector”, he added.
Economy records 3.9% growth rate in quarter 2 2021
Ghana’s economy expanded by 3.9% in the second quarter of this year, according to provisional figures from the Ghana Statistical Service.
During the same period last year where Covid-19 had emerged, the Gross Domestic Product (GDP) growth rate was -5.7%.
The Health and Social Work (20.75%), Information and Communication Technology (20%), Hotel and Restaurants (18.7%) as well as Fishing (12.7%) were the sub-sectors that expanded significantly.
The Agriculture sector over took Industry as the second biggest contributor to the second quarter growth rate.
The economy however still remains Services sector led, as it commands more than half of the size of the country’s GDP.
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