Post COVID world – what would the hospitality sector look like?
Blog by Aditi Banerjee, Magic Billion Consider these statistics [1] : · France : In March 2020, lock down measures resultedin the closure of 75,000 restaurants, 3,000 clubs and 40,000cafes, affecting 1 million employees who have been placedunder technical unemployment. These numbers have gone up since. · UK : 80% of workers in the hotel and food industries were reportedto be on furlough schemes and about a third of jobs were atrisk in the longer term. · USA : 2020 projected to be the worst yearon record for hotel occupancy leading to immense joblosses. Since the beginning of the crisis, nearly 1.6 millionhotel workers have been laid off or furloughed and 3.9million hotel-supported jobs have been lost. Suffice to say, the impact of coronavirus on the hospitality sector has been staggering . National governments across the world have been announcing stimulus packages since March 2020. For example, Germanyis giving out a €130billion coronavirus recover