executive briefing


The Institute for Employment Studies believes eight people are claiming unemployment benefits for every UK vacancy. (July 28)

In June, unemployment in the EU27 and Euro Area rose to 7.1% and 7.8% respectively, compared to 6.6% and 7.5% in June 2019. (3 August)


A recent GlobalData survey found that 29% of respondents would now work remotely full time. (2 August) 


Many economists have cut their GDP forecasts 2020 consensus forecast for world GDP growth is -3.9%.

Impact of Covid-19 on asset prices


As of 29 July 2020

Falling traveller numbers


GlobalData forecasts that international arrivals into the 62 largest tourism markets globally will fall by 34.5% in 2020. Uncertainty is increasing as parts of the US see a renewed surge in cases, local lockdowns are introduced in the UK, and the likes of India and Brazil continue to struggle to slow the spread of the virus.

Cruise industry losses


Royal Caribbean's results show just how hard hit the cruise industry has been. Compared to Q1 2019, revenues fell 16.7% to $2.03bn. The company's operating loss was $1.3bn, compared to a profit of $1.3bn in 2019. Q2 will likely be far worse due to the suspension of sailings.

tourist expenditure


GlobalData forecasts that inbound expenditure globally will fall by 37.9% in 2020. Domestic tourist expenditure has a projected decline of 27.3%.

Travel industry developments