Global economy

Firms in distress

30/08/2021 PNG

While everyone has been touched in some way by the enormous challenges arising from the coronavirus pandemic, some sectors have been harder hit. Perhaps unsurprisingly, food, travel and entertainment make up the industries predicted to be the most distressed because of containment measures. While larger and older firms are expected to fare better than their small and new counterparts.

COVID-19 has tested many industries capacities to adapt, the resilience of supply chains and workers' digital skills. It is time to prepare for future shocks by learning from the past year's lessons and close gaps in inequalities laid bare by the pandemic.

See also: Strengthening Economic Resilience Following the COVID-19 Crisis