The North Carolina hospitality industry, primarily composed of restaurants and hotels, is a multi-billion-dollar sector in the state. As a percent of the state economy, its share has been growing in recent decades. The industry accounts for one out of every 11 jobs in the state. On average, every $1 million of new spending in hospitality creates 15 direct jobs in the industry and another five jobs in other industries.
During the pandemic, the hospitality industry suffered some of the largest losses among all industries. Employment dropped 44 percent compared to 12 percent for the entire economy. Even in early […]