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Restaurant Assoc. Prepares to Navigate 2022 with ‘Cautious Optimism

By on February 4, 2022

Presents Economic Outlook, Survey Results; Employee Shortage Remains an Issue

The Puerto Rico Restaurant Association (Asore by its Spanish acronym), a 200-member entity representing nearly 700 establishments, revealed the results of its latest survey and projections for 2022, and said it is preparing to “navigate the new environment with cautious optimism and renewed verve.”

The trade group highlighted that the hospitality industry sector is an important economic engine that has the pandemic and began a year framed by extraordinary challenges.

From an economic point of view, Gustavo Vélez, who founded and runs San Juan-based consulting firm Inteligencia Económica, said that among the developments that can be expected in 2022 are three to four interest rate hikes, higher prices brought on by inflation, instability in the labor market stemming from rising wages as well as with inventories due to the global supply chain crisis, and the transfer of federal funds.

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