According to the calculations of the German Institute for Economic Studies (DIW), the new closure process in Germany, which started on November 2, will cost the economy dearly.
According to DIW’s analysis in the Welt am Sonntag newspaper, the cost of the new corona restrictions to different sectors will reach approximately 19.3 billion Euros. It was stated that gastronomy and accommodation will be the branches most affected by the restrictions due to the restrictions in restaurants and hotels. Within the scope of the second partial closure in the country, businesses in the field of gastronomy, especially restaurants, will remain closed until the end of the month, and activities for entertainment and leisure time will be banned throughout the country. In addition to restaurants, bars and discos, businesses such as theatres, opera, concerts, fairs, cinemas and game halls will also be affected by these measures. Tourist accommodation will not be allowed in hotels.
While the restrictions are expected to cause a turnover loss of approximately 5.8 billion euros in the gastronomy and accommodation sector, this figure normally corresponds to 55 per cent of the sector’s quarterly earnings.