COVID restrictions hit arts sector the hardest
13 December 2020
Reporter: Sandra Giorgetti
The Covid-19 business impact tracker from the Centre of Economics and Business Research commissioned by European utility company E.ON was released this week.
The reports shows that the arts, entertainment and recreation sector has taken the hardest hit with 34% of businesses seeing falls in turnover of more than 50%. Accommodation and food services were the next most affected businesses. Geographically, London and Wales were the most impacted by COVID restrictions.
The tracker measures twenty economic indicators. Starting with a baseline score of 98 under normal economic conditions, it took a sharp fall to 19 just a few months later in April at the time of the first lockdown. The national average in the months ending October was around 52.
Whilst the report is driven by the wish to understand the effects on energy consumption, E.ON UK CEO Michael Lewis said that, "energy use provides a useful insight into how companies are adapting".
Covid-19 business impact tracker can be downloaded in full.