29 May: COVID-19 has forced the issue of working from home to the forefront of many organisations thinking, but it has simply turned up the dial on a shift in working behaviour that has already been gaining pace and that the real estate sector must respond to.
Coronavirus and industry sectors
The spread of coronavirus (COVID-19) has resulted in significant industry disruption. This page collates ICAEW insights and externally-produced resources on the impact of coronavirus on different industry sectors.
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The covid-19 health and economic crisis will challenge insurers in these five ways
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Laura Miller considers how coronavirus could further affect banks and their customers
1 May 2020: ICAEW Insights speaks with Suketu Shah, senior manager at an Indian electrical goods company, about meeting the challenges of communication, cashflow and sales during the country’s lockdown.
Advice for dental practices, dental associates and self-employed dental therapists/hygienists during the coronavirus pandemic.
31 March 2020: Vincent Huck, editor of Insurance Asset Risk, takes a look at the challenges that insurers will face from the coronavirus effect on markets.
General industry resources
Series of insights from PwC’s Strategy& looking at how COVID-19 is affecting industries in the UK and how organisations can meet the challenge. Industries include power and utilities; travel and leisure; aviation; government; automotive; healthcare; pharmaceutical; banking; industrial manufacturing; real estate; asset and wealth management; retail; consumer goods; telecoms; insurance.
Industry-specific information and guidance from Deloitte on COVID-19. Sectors include aerospace and defence; automotive; consumer products and retail; financial services; government and public services; industrial products and construction; life sciences; mining and metals; oil, gas and chemicals; power, utilities and renewables; technology; telecom, media and entertainment; transportation and hospitality.
Data and analysis from ONS on coronavirus (COVID-19) in the UK and its effect on the economy and society. Includes information on coronavirus and homeworking in the UK labour market and analysis of the industries and occupations that parents and those aged 70 or over work in.
Hub from the United Nations Conference on Trade and Development (UNCTAD) providing analysis and reports on the effects of the global pandemic on manufacturing, trade, foreign direct investment and economic growth.
Analysis from IBISWorld, the industry research firm, outlining how the spread of COVID-19 is affecting business sectors around the world (including Australia, Canada, Germany, New Zealand, the UK and the US). Summaries cover mining; utilities; construction; manufacturing; wholesale trade; retail trade; transportation and warehousing; publishing, broadcasting and telecommunications; finance and insurance; education; professional, scientific and technical services; real estate, rental and leasing; healthcare; accommodation and food services; arts, entertainment and recreation.
Resources on Coronavirus from the Agriculture and Horticulture Development Board (AHDB) to help farmers, growers and supply-chain businesses. Includes market and sector analysis and guidance on dealing with coronavirus in the supply chain.
News article from the Horticultural Trades Association on the crisis facing the ornamental horticultural industry due to the coronavirus lockdown.
Interactive map from the European Automobile Manufacturers Association showing the impact of COVID-19 on the production of motor vehicles for each of the 27 EU member states plus the UK. Figures are updated on a weekly basis.
Survey of automotive suppliers from information provider IHS Markit on the impact COVID-19 has had on manufacturing operations and supply chains.
Information from aviation organisation EUROCONTROL on the impact of COVID-19 on air traffic in Europe. Includes a regularly updated assessment of the latest traffic situation and how it has changed compared to the same period in 2019. Also includes future air traffic scenarios and updates on the latest measures taken by European States and major European airlines in response to the pandemic.
Regularly updated reports from the International Civil Aviation Organization (ICAO) exploring the potential economic implications of the COVID-19 pandemic on the global civil aviation sector.
An updated assessment from the International Air Transport Association (IATA) comparing the impact on aviation of previous disease outbreaks with COVID-19. It highlights the potential effects in different markets of a limited spread scenario and an extensive spread scenario in terms of impact on passenger numbers and passenger revenues.
The International Air Transport Association (IATA) compares the impact on aviation of previous disease outbreaks with COVID-19. Data from February 2020 shows a 60% decline in domestic and international China passenger numbers and a potential industry-wide US$29bn loss of passenger revenues.
Report by London Economics for the University and College Union on the impact of COVID-19 on the finances of a selection of universities across the UK. Includes analysis of student enrolments and income, net cash inflow from operating activities and employment. Also considers the wider economic impact associated with the expected reduction in higher education institutions’ income and expenditure and this impact by region.
Coronavirus (COVID-19) and Solar PV: How will the solar PV industry weather the storm of a global pandemic?
Report from IHS Markit on the impact of COVID-19 on solar PV production and demand and the shape of the industry once the global crisis is over.
Information from trade association Wind Europe on coronavirus and the wind power sector. Includes impacts on the wind power supply chain and energy policy and regulation.
Hub from research and consultancy group Wood Mackenzie with regularly updated articles on the impact of coronavirus on the global energy industry.
Fashion and textiles
Press release from the International Textile Manufacturers Federation containing the results of a survey into the impact of coronavirus on the global textile value chain. Covers the impact on current orders, expected turnover for 2020 and challenges and opportunities for the sector. The results of a second survey were published on 6 April.
Regularly updated article from Women’s Wear Daily (WWD) on the impact of coronavirus on the fashion industry. Includes news on brands, major retailers, trade shows and industry events.
Preliminary assessment published by the European Banking Authority of the impact of COVID-19 on the EU banking sector.
Assessment published by the European Insurance and Occupational Pensions Authority showing the increased risk exposures of the European Union insurance sector due to the outbreak of COVID-19. The dashboard is based on Solvency II data and summarises the sector’s main risks and vulnerabilities through a set of risk indicators of the fourth quarter of 2019 complemented with market data and other information.
Article published by Deloitte on how the coronavirus outbreak may impact insurers operationally and economically. Looks at some of the key issues facing insurers and potential action steps they could take.
Food and drink
The results of a survey carried out by the Guild of Fine Food revealing key trends in the UK independent food and drink sector as a result of the COVID-19 pandemic.
Regularly updated timeline from news and information provider just-drinks on the effect the COVID-19 pandemic is having on the global drinks industry.
Health and beauty
Article from McKinsey & Company examining the likely effects of COVID-19 on the beauty industry over the next three to six months. How the crisis could fundamentally change the industry in the long term is also explored together with how retailers, strategic players and investors can adapt.
Article from Eversheds Sutherland published in legal newsletter International Law Office (ILO). Discusses the effects of COVID-19 on preparations for the upcoming EU Medical Device Regulation. Also includes information on CE marking, European standards and export requirements in relation to the increase demand for personal protective equipment.
Study on COVID-19 and the hospitality industry providing information on reservation and cancellation trends by region. Discusses revenue management and how hotel businesses can protect themselves during COVID-19 demand disruption. Produced by technology companies IDeaS and RateGain and the Hospitality Sales and Marketing Association International. (PDF, 9.4 MB, 30 pages)
Regularly updated hub from UKHospitality covering guidance and announcements for catering, hotel and other hospitality businesses in the UK. It includes information on financial support, employer advice, public health advice, contracts advice, advice on laundries, and considerations for premises licence holders.
Analysis, commentary and webinars from STR, the data benchmarking and analytics firm, monitoring performance data in regions around the world for the hospitality sector.
Fortnightly publication from industry association Make UK providing insight into the impact of COVID-19 on the UK’s manufacturing sector.
Media and entertainment
Article from Willis Towers Watson on the impact coronavirus on the film and TV production industry and how the crisis will change production business in 2020 and possibly beyond. Opportunities for the broadcast and media industry in terms of creative innovation are also discussed.
Analysis from PwC of the likely impact of COVID-19 on the UK entertainment and media industry including key trends across different subsectors.
Article from the International Trade Association for the Broadcast and Media Industry (IABM) on the effects of coronavirus on the sector. Covers industry events, advertising revenues, media technology investment, demand for entertainment, virtual media trends and innovation.
Hub from pension consultants Lane Clark & Peacock LLP providing up to date thinking on how COVID-19 is impacting the market across three areas; Pensions, Investment and Insurance . It is designed to give expert reaction on the latest developments and what they might mean in the short and longer term as well as giving practical advice about dealing with challenging times.
Property and construction
Regularly updated news from International Construction magazine on how COVID-19 is impacting the construction industry worldwide.
Report from Deloitte on how the real estate industry has been affected by Covid-19. The short and longer-term implications are considered for real estate sectors including office, retail, hospitality and industrial and logistics.
Analysis from law firm Pinsent Masons on the challenges UK retail businesses are facing as a result of coronavirus and how retailers can navigate legal and reputational risks during the current period.
Daily analysis of footfall and visitor trends in retail and leisure venues in the UK and other countries from Springboard, data specialists for the retail sector, showing the impact of the coronavirus outbreak. Charts illustrate a sharp decline in UK footfall since mid-March 2020.
Regularly updated hub from the Association of Convenience Stores (ACS) providing guidance for retailers. Resources include home delivery guidance, how to claim grants and compensation, guidance on employment law and colleague support, downloadable posters for display in store, and a template letter for critical workers to download in PDF format.
Publication from the World Tourism Organisation on the impact of COVID-19 on international tourism. Includes data on travel restrictions and international tourist arrivals. Also covers future scenarios and challenges and opportunities for the tourism sector.
Transportation and logistics
Regularly updated information on port restrictions and other measures impacting commercial shipping operations compiled by North, the marine insurance firm. Summaries are organised by country.
Briefing from the transport and logistics insurer TT Club outlining how freight forwarders, logistics service providers and other intermediaries can protect themselves legally and minimise their liabilities during disruption to freight transport and supply chains caused by the COVID-19 outbreak.
IVSC hub for the valuation profession. Includes a statement from the iVSC's Technical Standard Boards Dealing with valuation uncertainty at times of market unrest
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