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March 6, 2020

NZ restaurants seek fiscal relief due to Covid-19 impact

The Restaurant Association of New Zealand has sought government assistance as several of its members report losses due to the impact of the coronavirus (Covid-19) outbreak.


Visit our Covid-19 microsite for the latest coronavirus news, analysis and updates

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The Restaurant Association of New Zealand has sought government assistance as several of its members report losses due to the impact of the coronavirus (Covid-19) outbreak.

The association has sought tax cuts and financial assistance from the government to address the situation.

An internal survey has shown that the outbreak has significantly affected the local hospitality industry with some of the members reporting losses up to 60%.

Covid-19 originated from China and has now spread to 88 countries.

As a precautionary measure, New Zealand imposed coronavirus-related travel restrictions.

According to an estimate, the local restaurants are losing approximately NZ$6m ($3.8m) a week due to Covid-19.

Restaurant Association chief executive Marisa Bidois said: “We are calling on the government to set up and offer the hospitality industry immediate fiscal relief.

“Thousands of jobs are at risk and many communities can’t afford this.”

According to the association, the local hospitality industry contributes more than $11bn ($6.97bn) a year to the New Zealand economy.

The Covid-19 death toll has reached 3,380, while the number of positive cases has increased to 98,380.

On 6 March, New Zealand reported two Covid-19 cases.

Free Whitepaper
img

What is the impact of China’s Zero-COVID lockdowns on economic activity, consumer goods and the foodservice industry?

While wanting to protect the country from being overwhelmed by Omicron, China’s adherence to a Zero-COVID policy is resulting in a significant economic downturn. COVID outbreaks in Shanghai, Beijing and many other Chinese cities will impact 2022’s economic growth as consumers and businesses experience rolling lockdowns, leading to a slowdown in domestic and international supply chains. China’s Zero-COVID policy is having a demonstrable impact on consumer-facing industries. Access GlobalData’s new whitepaper, China in 2022: the impact of China’s Zero-COVID lockdowns on economic activity, consumer goods and the foodservice industry, to examine the current situation in Shanghai and other cities in China, to better understand the worst-affected industry sectors, foodservice in particular, and to explore potential growth opportunities as China recovers. The white paper covers:
  • Which multinational companies have been affected?
  • What is the effect of lockdowns on foodservice?
  • What is the effect of lockdowns on Chinese ports?
  • Spotlight on Shanghai: what is the situation there?
  • How have Chinese consumers reacted?
  • How might the Chinese government react?
  • What are the potential growth opportunities?
by GlobalData
Enter your details here to receive your free Whitepaper.

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