Hospitality vs Coronavirus - astonishing impact on Australian hospitality businesses
Sean McIntyre
Consulting Services - OTT Strategies / Content Producer / Communications Specialist / FAST Channels
It's not a case of who will pick up the slack - it's how and how long.
Covid-19’s effect on business in Australia - data reveals it ain't pretty. No surprise.
The Coronavirus crisis has had an astounding impact on Australian businesses. Christopher Knaus (The Guardian) has just been through the latest data released by the Australian Bureau of Statistics (ABS).
The regular crowd would've shuffled in...if not for social distancing.
The impact on the hospitality sector is extraordinary. In Australia, the Coronavirus pandemic has forced a staggering :
- 70% of hospitality sector businesses to reduce the hours of their staff
- 43% have either sacked workers or placed them on unpaid leave
- Two-thirds of businesses across all sectors reported taking a hit to revenue or cash flow due to Covid-19.
One in 10 have paused operations entirely.
- Two in five businesses have changed how they deliver products or services, including shifting to online.
- Over a third of businesses have modified lease/rental arrangements and a quarter have deferred loan repayments.
The ABS data is based on a survey of 3,000 companies in the days after the government’s tough social distancing restrictions were announced on 29 March .
'He said, "Bill, I believe this is killing me", As the smile ran away from his face...'
A friend of Bill's, who wished to be known as only 'John at the bar', made further observations: Melbourne's Age is reporting on the release of 'special research looking at past disease outbreaks'. In short - the Virus will leave a considerable economic impact, including 'higher wages and lower interest rates for decades'.
The report didn't mention any complaints about higher wages.
Back at the bar: due to the ban on gathering's of more than two film crew or two actors at any one time - "John's" movie star ambitions are now on hold.
'John at the bar' refused to comment on rumours that he is now in talks with a real estate novelist.
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Consulting Services - OTT Strategies / Content Producer / Communications Specialist / FAST Channels
4 年The Age - Dominic Powell | Australian retailers begin to reopen stores, despite expert warnings Australian retailers are beginning to tentatively reopen stores across the country despite the pressing threat of the coronavirus pandemic, with a retail industry group telling shopkeepers to reopen stores "if they can". * https://www.smh.com.au/business/companies/no-brainer-retailers-encouraged-to-start-reopening-stores-20200408-p54i51.html?
Consulting Services - OTT Strategies / Content Producer / Communications Specialist / FAST Channels
4 年Wise Words Media Callumny Films