In stationary retail, around six billion euros in sales were lost per month, the researchers predicted, according to one presented on Wednesday Message. Part of the business is migrating to online trading.
Significant losses can also be expected in the catering sector. “If things get as bad as early 2021 for the catering industry, the loss in sales could add up to over ten billion euros compared to a normal year,” warned the economic experts.
According to IW, the corona virus has already severely damaged the German economy. According to the Institute’s calculations, around 335 billion euros in added value have been lost so far, 190 billion euros of which last year and 145 billion euros in 2021. According to the experts’ calculations, another 35 billion euros would have been added in the first quarter of 2022 without Omikron. The new wave and the associated restrictions increased the loss of gross domestic product (GDP) by another five to 15 billion euros. The corona damage in the first quarter could add up to 50 billion euros.
In the long term, the IW emphasized that only a high vaccination rate would enable the way to normality. According to the Institute, a general compulsory vaccination would accelerate this process and ease the burden in the hospitals. (dpa / rs)