ECONOMY

Beer sales jump early in the year

beer-sales-jump-early-in-the-year

The reopening of restaurants, bars and cafes in May and the significant increase in tourists have provided a big boost to local breweries.

In terms of sales, the beer market grew by nearly 20% in the first half of the year, after dropping nearly 25% in 2020.

Sector executives are guardedly optimistic about the full year because food services will be off limits to the non-vaccinated when they move largely indoors as the weather gets colder. Also, with the spread of the Delta variant of Covid-19, the possibility of further lockdowns does not seem out of the question.

Last year, sales at retail outlets increased as consumers were drinking at home instead of out, but this hurt the bottom line, as beers are far less expensive in supermarkets and liquor stores.

The consensus seems to be that sales growth for the whole year will range between 10 and 15 percent.