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Tertiary sector loses €4 Bi/month with the current confinement

This post is also available in: Português (Portuguese (Portugal))

The slowdown in the economy with the current confinement is expected to bring down € 4 billion per month for professionals in the tertiary sector, when the first half of 2021 was expected to assert itself essential for the recovery of businesses that have stagnated since the beginning of the pandemic, he says a Setting, in a comparative analysis of the sector’s performance between the two general feedlots.

For Fixando, the largest national platform for contracting local services, the second confinement should record losses in the order of 35% compared to the values ​​of the pre-pandemic reality, even so, much lower than the losses of 89% during the months of March and April 2020.

According to the company’s analysis, the drop in the average transaction price coupled with the drop in demand will prevent the necessary recovery of a sector that is currently very fragile.

However, the implementation of individual protection measures, the recovery of consumer confidence and the adaptability of service providers and companies to the new reality (through alternative business models) will have the capacity to slightly mitigate the consequences and prevent the sector from falling drastically as it did in a first confinement.

Except, however, the events sector, which in a first confinement recorded a drop of more than 85%, which in a sector valued at € 900m may represent breaks in the order of € 765m, and which in the second confinement continues with an average monthly break 80% with no signs of future recovery.

Maintaining this negative trend, says Fixando that the events sector could reach losses in the amount of € 890m and cause the closure of several companies, putting thousands of jobs at risk.

For this reason, professionals in the sector yearn for a possible relief in the measures as of May, which may cause a 69% growth in the demand for services, and allow, even if slowly, to enter the second half of the year with some stability, even if some have found alternatives to turn the crisis around by resorting to remote and digital work.

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