Previous recessions and economical changes have differed in the sense that they’ve been led by exporting industries.
We’ve seen manufacturing and finance take a real hit in the past – creating an even bigger uphill struggle on the road to recovery. This time around, the Coronavirus pandemic saw an impact landing on the catering and entertainment industries.
As a result, we are seeing a much larger, much quicker boom on the horizon.
Gareth Palmer, founder and executive chef of Vanilla Bean Catering has seen an incredible surge in event bookings over the past 12 months.
Palmer commented on the speed at which the food industry has picked back up despite these economic struggles. “We’re becoming booked up months in advance, attending a host of different events throughout each season. We expected it to pick up after the lockdowns, but we didn’t expect anything like this.”
The likelihood is that people are making up for lost time over the last two years. As a result, the catering and events industries are thriving, almost struggling to keep up with demand.
Similarly to Palmer’s situation, Ben Hunter from Grizzly Bear Events has recognised this influx of bookings and people excited to return to our new normal.
Overdue weddings are one of the most significant factors contributing to this boom. Ben mentioned how they are “busier than we’ve been in a long time. January is always busy and much of our equipment is often fully booked come February. It’s just been non-stop since the pandemic. Events are ongoing and people are booking in whenever they can just to ensure they can make up for the past two years.”
This just goes to show that even despite rising living costs, people are prioritising these industries – investing money in their social lives.
We do however have to take into account that many areas of the UK have weathered the storm and become somewhat comfortable with the new approach ‘living with COVID’. Remote work, social distancing and at-home entertainment have become something we’re dabbling in.
Outside of our large family events, people have picked up new hobbies and found new ways to entertain themselves. Ed and Glen from The Tipster Judge have seen a huge boom in people looking for safe gambling opportunities – dabbling in the world of horse racing online to avoid the likes of betting shops.
Over lockdown when people weren’t going out or spending as much on travelling and fuel costs, this industry felt the love.
Ed and Glen have both commented on the fact this has continued even after restrictions were lifted. “People discovered a way to enjoy their hobbies from the comfort of their own home and with more information around safer gambling available – people aren’t taking it to the extreme. It became much more fun in the long run.”
It will be interesting to see which other industries continue to thrive in this uncertain time. Overall we have seen the ones that took the biggest hit during the pandemic boom even more quickly in recent months. Compared to previous challenges, we seem to be looking at a more promising future for many businesses.
