Journal Article

Hybrid Work May Pose Challenge to Bars and Restaurants in Parts of the Tenth Federal Reserve District

Abstract: As remote or hybrid work continues to be popular, office attendance has fallen. Less in-person work may increase office vacancy rates and reduce foot traffic to other businesses located in office-dense areas. Compared with the national average, most states in the Tenth Federal Reserve District have a lower share of office space in office-dense areas, but some of these areas have a higher share of bars and restaurants. The outlook for these businesses may depend on how foot traffic within office-dense areas evolves.

Keywords: remote work; vacancies; Office buildings; Tenth Federal Reserve District;

Bibliographic Information

Provider: Federal Reserve Bank of Kansas City

Part of Series: Economic Bulletin

Publication Date: 2024-03-01

Pages: 4