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Almost all business sectors in the Netherlands are seriously affected by the crown measures, according to an analysis by Rabobank. According to the bank, the decrease in floriculture turnover is the largest: 70 percent this quarter (April-June) and 40 percent in the third quarter (July-September) compared to the previous year. A billing claim scheme of 600 million euros will be introduced for the affected companies, it was revealed yesterday.
Retail, such as opticians, clothing stores, and furniture stores, is also experiencing large declines in sales. Online sales don’t make up for the significant drop in physical turnover, says Rabobank director Carin van Huët. “Closing stores means zero income immediately, while fixed costs continue. The economic damage will be severe, with tens of thousands of unemployed in this industry and large vacancies in shopping areas.”
The bank expects that for many sectors the decrease in billing will continue until at least the last quarter of 2020. For the catering industry, the crisis will be felt until 2021.
The only bright spot, according to Rabobank, is internal tourism. “If the measures are relaxed from June 1, we hope that more Dutch people will spend their holidays in their own country this year. This may offer some perspective on a lost year.”
