• About us
  • Advertise
  • Contact
  • Nominate
  • Client’s Voice
  • Login
  • Register
📖 Magazine
The Global Economics
  • Home
  • Banking
  • Non Banking
  • Markets
  • Infrastructure
  • Lifestyle
  • FeatureNew
  • Awards
No Result
View All Result
  • Home
  • Banking
  • Non Banking
  • Markets
  • Infrastructure
  • Lifestyle
  • FeatureNew
  • Awards
No Result
View All Result
The Global Economics
No Result
View All Result
Home Finance

Rise in Faltering Businesses in Asia Pacific, Recovery Under Way

The Global Economics by The Global Economics
July 27, 2020
in Finance, Top Stories
Reading Time: 1 min read
0
Colleagues walking up the stairs

Colleagues walking up the stairs

78
SHARES
435
VIEWS
FacebookTwitterRedditWhatsAppLinkedInFacebook

Major Asia Pacific businesses lagged in the few months of the coronavirus pandemic linking falling sales and growth with imposed lockdowns.

Several countries- including Malaysia and Hong Kong- have suffered with 18% of the small and medium businesses (SMBs) closing in the months of Jan-May, as per the State of Small Business Report by Facebook, the World Bank, and OECD.

The sectors which faltered the most are tourism agencies, education and child-care services, hospitality and event management services, hotels and restaurants.

With rising cases and re-imposed shutdowns, there has been a significant drop in the demand of goods and services offered by the small-and-medium businesses. Reportedly, 61% of the businesses in East Asia and Pacific went through falls in sales. Though countries with limited lockdowns, like Taiwan, had better chances of resurgence, met with a drop of over 50% in 28% of their SMBs.

The strength of Asia Pacific’s rebound lies in the financial aid from the state and government. Over 29% of the businesses received some form of state financial support to recover from the slump. With a lot of uncertainty and challenging quarters in the future, many countries, like Indonesia and the Philippines, are hopeful of recovery. Only time will tell.  

The Global Economics

The Global Economics

The Global Economics Limited is a UK based financial publication and a bi-annual business magazine giving thoughful insights into the financial sectors on various industries across the world. Our highlight is the prestigious country specific Annual Global Economics awards program where the best performers in various financial sectors are identified worldwide and honoured.

Related Posts

UK Banks Announce Closure of 36 More Branches
Banking

UK Banks Announce Closure of 36 More Branches

by Rahil Adnan
September 22, 2023
Indonesian Parliament Approves $216 Billion State Budget
Economy

Indonesian Parliament Approves $216 Billion State Budget

by Riya Thomas
September 21, 2023
Changing Geopolitics of Azerbaijan & Armenia and Its Effects on the World Economy
Economy

Changing Geopolitics of Azerbaijan & Armenia and Its Effects on the World Economy

by The Global Economics
September 20, 2023
Toyota's Bold Move: Fusing Traditional Tactics and Cutting-Edge Technology in the EV Arena
Transportation

Toyota’s Bold Move: Fusing Traditional Tactics and Cutting-Edge Technology in the EV Arena

by Riya Thomas
September 19, 2023
China’s Trade War Expands Beyond Semiconductors
Lifestyle

China’s Trade War Expands Beyond Semiconductors 

by The Global Economics
September 19, 2023
Twitter Youtube LinkedIn Soundcloud
the global economics logo

The Global Economics Limited is a UK based financial publication and a quarterly business magazine giving thoughtful insights into the financial sectors on various industries across the world. Our highlight is the prestigious country specific Annual Global Economics awards program where the best performers in various financial sectors are identified worldwide and honoured.

DMCA.com Protection Status

  • Privacy
  • Legal
  • Terms of Use
  • Client’s Voice
  • Server Status

norton verified - the global economics

Latest Posts

UK Banks Announce Closure of 36 More Branches

UK Banks Announce Closure of 36 More Branches

September 22, 2023
Indonesian Parliament Approves $216 Billion State Budget

Indonesian Parliament Approves $216 Billion State Budget

September 21, 2023
Changing Geopolitics of Azerbaijan & Armenia and Its Effects on the World Economy

Changing Geopolitics of Azerbaijan & Armenia and Its Effects on the World Economy

September 20, 2023
Download The Global Economics PWA to your mobile or Desktop
PWA App Download
Download The Global Economics Android App to your mobile or Desktop
Android App
Download The Global Economics IOS App to your mobile or Desktop
IOS App

All Rights Reserved © 2020 | 🇬🇧 The Global Economics, Business Finance Publication - www.theglobaleconomics.uk 🌏

No Result
View All Result
  • About us
  • Awards
  • Magazine
  • Client’s Voice
  • Exclusive Coverage
  • Nominate
  • Login
  • Sign Up

All Rights Reserved © 2020 | 🇬🇧 The Global Economics, Business Finance Publication - www.theglobaleconomics.uk 🌏

Welcome Back!

Sign In with Facebook
Sign In with Linked In
OR

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Sign Up with Facebook
Sign Up with Linked In
OR

Fill the forms below to register

*By registering into our website, you agree to the Terms & Conditions and Privacy Policy.
All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.
Go to mobile version