IMF - World Economic Outlook April 2020
According to the IMF, the Global Lockdown will be the worst recession since the Great Depression. It will have far severe implications than the Global Crisis in 2009. The Eurozone GDP could fall by 9% in 2020, according to Christine Lagarde, President, European Central Bank.
So, the UK economy is contracting. The hospitality industry is already smaller, and it will continue being the worst hit. A survey by UKHosptality shows a ‘worst-case scenario’ by December – down by 61% for the same period in 2019.
Not just the industry leaders, but even customers are unsure when and how they want to return to public spaces – IF they want to return to public spaces. Here are the results of a survey by YouGov: