Study: Corona crisis cost brewing industry over CZK 4.7 billion
The Czech brewing industry lost over CZK 4.7 billion from March to May due to the coronavirus situation and associated government measures, according to a study conducted by the Centre for Economic and Market Analyses. The closure of restaurants and pubs had the greatest impact, with such businesses selling 728,000 fewer hectoliters of beer in the three-month period. However, there was also an increase in sales of beer in shops during the lockdown.
One of the study’s authors told the Czech News Agency that the losses would also impact the state budget, due to a decline in both VAT collection and excise duty on beer.