New York Opens Up Restaurants
New York Governor Andrew Cuomo announced that restaurants will be allowed to open in New York City for the first time since March. The lighter restrictions, which allow for 25% capacity at indoor dining sites, will go into effect at the end of September.
The lifted ban on indoor dining is significant because New York is one of the last places in the country to have a ban in place. It will provide an economic boost to the city’s restaurants, but the move could help other industries such as travel as the nation’s top travel destination becomes a more appealing location.
The end of the ban is also important psychologically and symbolically. With New Yorkers allowed to return to restaurants, it is likely that consumers will start to see their lives as a little more normal. However, this relaxed attitude could also lead to a resurgence of the virus in the city, which could have disastrous economic effects in New York and around the country.
I am not a financial advisor and my comments should never be taken as financial advice. Investments come with risk, so always do your research and analysis beforehand.