According to restaurant and bar owners, the first cut made by families affected by higher mortgage interest rates are their nights out. Discotheques and bars report an average drop in sales of 20% in the past eight months. Restaurants report that clients study the prices more closely and tend to opt for the cheaper dishes. Many mortgage payers are foregoing their lunches out and take food to work in what they call “tupper”. One said he and his family hadn’t even visited McDonalds in the past five months. Another said a trip to the cinema was now considered an exciting night out. Malaga’s Catering Industry Association said the number of bars and restaurants in the province was dropping steadily. He said that while tourist areas like the Costa del Sol are particularly vulnerable, the situation is the same throughout the country.
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