The coronavirus pandemic took the world by surprise and brought international tourism almost to a complete halt. The initial phases of a relative recovery are restoring connectivity between those outbound markets and tourist destinations that have controlled the spread of the coronavirus. However, the sector will have to undertake a far-reaching and rapid transformation to adapt to the new, post-COVID-19 international tourist who will demand more personalised, flexible and, above all, safer services.
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Today’s economic headlines are focusing on the devastating economic impact that the COVID-19 crisis is having on the labour market, businesses and households, and on the steps being taken by more than half the world’s governments and central banks to mitigate these effects. However, when everything passes, the changes that the current crisis is triggering more quietly and discreetly in many other aspects will become apparent. In this article, we focus on the changes that are likely to occur in the way we produce.
Due to the pandemic, the current situation of the Spanish economy is very complex. The case of retail is no exception, although it is proving to be remarkably resilient in the face of all the restrictions on opening hours and capacity adopted in order to curb the pandemic. As revealed by the sector’s demand and employment indicators, retail trade is now close to, but below, its pre-COVID level. Despite this, an analysis of CaixaBank’s internal data shows very different figures for large and small companies, as well as for the different branches of activity, confirming that the sector has yet to recover completely.
After the strong recovery undergone by the tourism sector last summer, the activity indicators published up to December showed no signs of slowing down.
At a time when many countries are beginning to gradually lift the lockdown measures, and with the first estimates of GDP for Q1 2020, we can begin to glimpse the impact of the social distancing measures on the economy in this second quarter of 2020.
The COVID-19 pandemic has shaken us to the core and has become a major part of our lives. It has changed our habits and altered the world we live in. From the small to the big: One of its legacies will be a large sack of debt. How much will it weigh and how will it dictate our lives in tomorrow’s world?
CaixaBank’s internal data allow us to assess in detail which groups are particularly suffering as a result of the crisis generated by the COVID-19 pandemic and to what extent public sector transfers are proving effective in protecting them.
After analysing the extent of the fiscal boost in Germany, Spain, France and Italy to counteract the COVID-19 crisis, we examine the following question: which countries have taken more efficient and better fiscal measures?
We monitor the trends in private consumption and the impact of COVID-19 based on card purchases and cash withdrawals at CaixaBank POS terminals and ATMs.
The coronavirus pandemic is having a severe impact on emerging economies. Around 100 countries, most of them emerging, are exploring the possibility of obtaining assistance from the IMF or expanding that which they already have in place. Are we entering into a new widespread crisis in the emerging markets like that of the 1980s and 1990s?
The health crisis brought about by COVID-19 has forced large parts of society to quickly and unexpectedly adapt to remote working, a relatively minority practice in Spain prior to the outbreak of the pandemic. Does Spain simply lack the potential to telework or, on the contrary, does it has the potential but fails to exploit it?