The coronavirus and its consequences for the economy

by Mehdi BAH

The spread of the coronavirus also has massive economic consequences. Thanks to a survey by the Hamburg Chamber of Commerce, these effects can be expressed in figures for the first time.

Absagen of fairs, failing business trips, restrained tourists and difficulty in maintaining supply chains – the effects of the coronavirus disease also hit the commercial city of Hamburg massive. And for the first time, the consequences can also be expressed in numbers.

First of all you should read this : Coronavirus: All You Should Know About It And How To Protect Yourself

The Hamburg Chamber of Commerce has in a current survey of 241 Hamburg companies, which are mainly active in wholesale and foreign trade, to get a picture of the mood of the corona virus on the Hamburg economy.

According to this, the coronavirus affects 39 percent of the participating companies to a very high or rather high degree on current business activities, and in the case of companies doing business in China, it affects as much as 49 percent. According to the survey, only ten percent of the participating companies are affected to a very limited extent or not at all.

The main impact of the corona virus is on failure of or restrictions on suppliers (58 percent), travel restrictions for management (57 percent), reduced customer demand (32 percent) and difficulties with distribution (31 percent). Around 37 percent of the participating companies expect the corona virus to have an impact on business activities by the end of the year.

This is 44 percent of the companies operating in China. An example: “Due to the Chinese New Year and the closure of a factory by the end of the eighth calendar week, our most important import customers did not book import containers from China in February, so that our import sales fell by around 50 to 60 percent in the past month,” reports Jörg Cappel, managing director of CARGO LINK Transport + Logistik GmbH.

The hotel and catering industry will also feel the effects , as the German Hotel and Restaurant Association announced on Friday. According to a survey among member companies, 76.1 percent are already complaining of declining sales, 90.4 percent are reporting declines in new bookings.

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Four other cases

Four other cases of coronavirus disease in Hamburg were confirmed on Friday night. According to the health authority, those affected are in domestic isolation, all contact persons have been identified and informed and – if they are contact persons with a high risk of infection from category I – tested and isolated. Three affected people with mild symptoms had traveled to Hamburg by car from northern Italy. They have been isolated at home since their return.

The fourth case is a contact person for a known infected person who is also isolated in Hamburg. Eight cases had previously been confirmed in Hamburg . According to the authority, the course of the disease is “mild” in all cases. In justified cases with corresponding symptoms and connection to risk areas, the authority advises to contact the doctor’s call 116 117.

New dates for the fair and Beatles Festival

The catering and hotel trade fair Internorga, postponed for fear of the corona virus, is now to be rescheduled in Hamburg in June. The event will begin on Saturday, June 20 and end on Wednesday, June 24, the Hamburg Messe und Congress GmbH (HMC) announced on Friday. “It was a great challenge for us to find a suitable date in summer. We wanted to stay outside of school holidays, ”explained fair boss Bernd Aufderheide. From March 13th to 17th, around 1300 exhibitors from 25 countries wanted to present their offers to a specialist audience at Internorga, including the latest from the food segment. 95,000 visitors were expected.

A new date was also found for the postponed Hamburg Beatles Festival “Come Together – The Hamburg Beatles Experiment”. “After the first big shock, we can now quickly announce good news: The festival will be rescheduled this summer,” said the organizers on Friday in Hamburg. At the same time, however, the festival, which was originally scheduled for three days, has shrunk by one day. It will now take place on August 15th and 16th.

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