Moscow Hospitality Sector Faces Rising Costs
Businesses in Moscow are experiencing a triple pressure of declining demand, rising costs, and expensive credit. Statistics show up to a 12% loss of customers in the catering sector. The removal of tax incentives, such as the simplified tax system for IT companies, and increased insurance contributions have further impacted the business environment. High interest rates continue to affect corporate borrowing despite recent rate reductions. Businesses are also feeling the impact of the cancellation of the Simplified Tax System (STS) for IT companies and an increase in insurance contributions. Companies without profit may survive for a year or slightly longer if they maintain stable cash flow.
Topics
Developing
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Sources · 7 independent
Kommersant FM
“The main blow to business was a triple pressure: a drop in demand, people are saving, demand is shrinking, it is noticeable in the consumer sphere of catering. In Moscow, statistics show up to a 12% loss of clients.”
Kommersant FM
“Rostransnadzor is monitoring the situation with multi-hour delays of Pobeda airline flights at Sheremetyevo airport and on regional flights. Representatives of the agency have gone to the airport.”
Kommersant FM
“Despite the reduction in the key rate, borrowing in the hospitality sector is expensive. In Moscow, statistics show up to a 12% loss of customers.”
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