The crisis triggered by the COVID-19 pandemic has been unlike any other the world has experienced, requiring social distancing and restrictions on mobility, and rendering some economic activity impossible. This publication explores and compares the characteristics that have affected the ability of firms, workers and consumers to maintain production, employment and consumption during the COVID-19 crisis, across industries and countries.
The crisis triggered by the COVID-19 pandemic has been unlike any other the world has experienced, requiring social distancing and restrictions on mobility, and rendering some economic activity impossible. This publication explores and compares the characteristics that have affected the ability of firms, workers and consumers to maintain production, employment and consumption during the COVID-19 crisis, across industries and countries. It takes an analytical forward-looking perspective, considering a broad collection of indicators and evidence to guide policies. The aspects covered centre around topics of business dynamics; productivity; innovation and digital technologies; interconnectedness; inclusiveness; and skills. The report incorporates both a short-term perspective - analysing the supply restrictions and lockdowns that have characterised containment responses - and a medium- to long-term view, focusing on changes in demand that have arisen through recessionary effects and changes in preferences. The purpose of this publication is to provide insights to policy makers in three ways. First, by providing an overview of the different channels through which the crisis has affected firms differently across industries; then, by identifying country characteristics which may mediate these channels and mitigate or amplify the impacts of this and future shocks on the economy; and finally, by exploring systematic differences in the impact across population subgroups and the implications for policy.
The crisis triggered by the COVID-19 pandemic has been unlike any other the world has experienced, requiring social distancing and restrictions on mobility, and rendering some economic activity impossible. This publication explores and compares the characteristics that have affected the ability of firms, workers and consumers to maintain production, employment and consumption during the COVID-19 crisis, across industries and countries. It takes an analytical forward-looking perspective, considering a broad collection of indicators and evidence to guide policies. The aspects covered centre around topics of business dynamics; productivity; innovation and digital technologies; interconnectedness; inclusiveness; and skills. The report incorporates both a short-term perspective - analysing the supply restrictions and lockdowns that have characterised containment responses - and a medium- to long-term view, focusing on changes in demand that have arisen through recessionary effects and changes in preferences. The purpose of this publication is to provide insights to policy makers in three ways. First, by providing an overview of the different channels through which the crisis has affected firms differently across industries; then, by identifying country characteristics which may mediate these channels and mitigate or amplify the impacts of this and future shocks on the economy; and finally, by exploring systematic differences in the impact across population subgroups and the implications for policy.
Austria is set to overcome the COVID-19 shock and its economic scars with the help of genuine sanitary, health and economic support policies. The country faces the opportunities and the challenges of two major structural transformations: transition to a net zero emission economy, and the generalisation of more advanced forms of digitalisation.
Digital transformation is revolutionising economies and societies with rapid technological advances in AI, robotics and the Internet of Things. Low and middle-income countries are struggling to gain a foothold in the global digital economy in the face of limited digital capacity, skills, and fragmented global and regional rules.
The New Zealand economy recovered quickly from the COVID-19 shock thanks to effective virus containment, measures to protect jobs and incomes and highly expansionary macroeconomic policies but is now overheating and house prices have soared. The Reserve Bank has begun to tighten monetary and macroprudential policies with a view to achieving its price and financial stability objectives.
This open access book presents the proceedings of the International Federation for IT and Travel & Tourism (IFITT)’s 29th Annual International eTourism Conference, which assembles the latest research presented at the ENTER2022 conference, which will be held on January 11–14, 2022. The book provides an extensive overview of how information and communication technologies can be used to develop tourism and hospitality. It covers the latest research on various topics within the field, including augmented and virtual reality, website development, social media use, e-learning, big data, analytics, and recommendation systems. The readers will gain insights and ideas on how information and communication technologies can be used in tourism and hospitality. Academics working in the eTourism field, as well as students and practitioners, will find up-to-date information on the status of research.
A practical approach to business transformation Fit for Growth* is a unique approach to business transformation that explicitly connects growth strategy with cost management and organization restructuring. Drawing on 70-plus years of strategy consulting experience and in-depth research, the experts at PwC’s Strategy& lay out a winning framework that helps CEOs and senior executives transform their organizations for sustainable, profitable growth. This approach gives structure to strategy while promoting lasting change. Examples from Strategy&’s hundreds of clients illustrate successful transformation on the ground, and illuminate how senior and middle managers are able to take ownership and even thrive during difficult periods of transition. Throughout the Fit for Growth process, the focus is on maintaining consistent high-value performance while enabling fundamental change. Strategy& has helped major clients around the globe achieve significant and sustained results with its research-backed approach to restructuring and cost reduction. This book provides practical guidance for leveraging that expertise to make the choices that allow companies to: Achieve growth while reducing costs Manage transformation and transition productively Create lasting competitive advantage Deliver reliable, high-value performance Sustainable success is founded on efficiency and high performance. Companies are always looking to do more with less, but their efforts often work against them in the long run. Total business transformation requires total buy-in, and it entails a series of decisions that must not be made lightly. The Fit for Growth approach provides a clear strategy and practical framework for growth-oriented change, with expert guidance on getting it right. *Fit for Growth is a registered service mark of PwC Strategy& Inc. in the United States
The COVID-19 global health pandemic, which started in late December 2019, forced many countries to adopt unusual measures such as social distancing and strict lockdowns. It changed many of our certainties and practices, including the foundations of the market-led version of capitalism, by bringing social and health considerations back to the forefront of firms' considerations, investors' strategies and governments' priorities. Under the effects of this unprecedented crisis, all sectors of finance and real economy have been seriously affected.Health uncertainties and their increasing consequences for human life and activities require stronger and faster actions to shape pathways towards sustainability and better resilience. The COVID-19 health crisis is a visible part of a greater iceberg: the World Health Organization has tracked, over recent years, a large number of epidemic events around the world, suggesting that many other similar diseases could appear and evolve in the future from epidemic to pandemic in a globalized world.Financial Transformations Beyond the COVID-19 Health Crisis was specifically designed to provide the readers with new results, recent findings and future outlook on the impacts of COVID-19 on financial markets, firm behaviors, and finance and investment strategies. It favors multidimensional perspectives and brings together conceptual, empirical and policy-oriented chapters, using quantitative and qualitative methods alike. This is a timely and comprehensive collection of theoretical, empirical and policy contributions from renowned scholars around the world, and provides the thoughts and insights required to rethink the financial sector in the event of new shocks of the same nature.
