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Economic Impact from COVID-19

Archived reports and research insights

Moodie Davitt Report: China tourism revival gathers momentum amid prevention and control of COVID-19 (April 30, 2020)

This article looks at domestic travel in China. More than 85% of hotels across China have resumed operations. Tourist sites in China will open with maximum 30% capacity.

Moodie Davitt

Leger: COVID-19 Tracking Survey Results (April 27, 2020)

Online survey results from data collected from Canadian consumers April 24 to April 26. Albertans are significantly more likely to have gone grocery shopping (81%), ordered take-out food (38%) or visited a liquor store (28%) than the rest of Canadians.

Leger

Oxford Economics: Global Research Briefing on Emerging from lockdown (April 27, 2020)

There was a plunge in the purchasers managing index (PMI) – an indicator of business confidence, which may lead to louder calls for lockdown restrictions to be lifted. A rapid lifting of restrictions could lead to an underwhelming economic rebound if individuals voluntarily choose to continue social distancing. If temporary financial support measures are phased out too, some business may find themselves in a worse financial position than now.

Oxford

Conference Board of Canada: Sharp Deceleration in March Inflation (April 22, 2020)

Conference Board of Canada economist Anna Feng offers insights on March Consumer Price Index data. Inflation recorded its biggest month over month drop since September 2006 due to the oil price crash, coupled with reduced demand for tourism-related services.

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TIAC: State of Tourism in Canada during COVID-19 dashboard report #2 (April 20, 2020)

Snapshot of recent global, regional, and domestic tourism health and economic updates on COVID-19’s impact on the travel and tourism industry’s path to recovery. A number of airlines are expecting to resume service starting in May (see page 3), a majority of travellers may look to make the switch from short-haul air to longer train rides and auto trips to travel – destinations need to consider an increase in visitors via auto and train routes post-lifting of travel restrictions.

TIAC

Statistics Canada: Impacts of COVID-19 on job security and personal finances (April 20, 2020)

The second release of employment-related information from Statistics Canada’s new web panel survey reports over one-third of workers are concerned they might lose their job in the next four weeks, while three in 10 Canadians say the pandemic is affecting their ability to meet their financial obligations or basic needs. According to the March Labour Force Survey, more than one million jobs were lost from February to March and a further 2.1 million Canadians worked less than half of their usual hours. The first survey panel release reported on changes in place of work, including working from home.

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Think with Google: How Canadian restaurants can better assist customers during times of uncertainty (April 20, 2020)

Google offers advice on how restaurants can support customers and drive revenue while they are closed—including updating your Google My Business Profile, communicating take-out and delivery options effectively, and reassuring customers about restaurant safety and sanitation measures.

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Conference Board of Canada: Provincial Outlook Spring 2020 Preliminary Forecast (April 15, 2020)

With Canada in the midst of the worst economic downturn in decades, the Conference Board has updated its outlook for the national and provincial economies. Alberta’s economy will contract by 5.8 per cent, surpassing 2009 as the worst annual contraction on record. One bright spot: the Board foresees the Canadian job market and economy bouncing back quickly thanks to government measures to help businesses and consumers stay afloat.

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McKinsey & Company: COVID-19 Briefing Materials – Global health and crisis response (April 13, 2020)

This in-depth report covers a broad range of topics, including the health and economic situation right now, potential economic scenarios, how to plan and manage COVID-19 responses and sector specific impacts, including air and travel (starting on page 65). McKinsey & Company expects domestic travel markets to bounce back within two to three quarters and long-haul and international markets to bounce back within six quarters (see page 68).

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TIAC: State of Tourism in Canada during COVID-19 dashboard report #1 (April 13, 2020)

The Tourism Industry Association of Canada (TIAC), in partnership with Twenty31, provides the first weekly snapshot of recent global, regional, and domestic tourism health and economic updates, and insights on the travel and tourism industry’s path to recovery. Insights are based on the current state and future potential of key drivers of tourism recovery including the most important tourism channels—tour operators, airlines, travellers, source markets and tourism business operators. The report indicates the gradual easing of travel restrictions in Canada—beginning with inter-and intra-provincial travel—is anticipated in June/beginning of July.

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