Money Buzz! Europa

Tag: coronavirus

  • Spain welcomed only 19 million foreign tourists in 2020, lowest level in the past 51 years

    Spain welcomed only 19 million foreign tourists in 2020, lowest level in the past 51 years

    The number of international visitors to Spain has fallen by more than 80% in 2020, after authorities imposed travel restrictions in context of the coronavirus pandemic (COVID-19).

    Spain welcomed only 19 million foreign tourists last year, a level not recorded since 1969. Also, foreign tourists’ spending in 2020 fell by 78.5% to 19.74 billion euros.

    Most foreign tourists came last year from France (3.87 million, a decline of 65.2%), the United Kingdom (3.17 million, down 82.4%) and Germany (2.41 million, a decline of 78.4%).

    In 2019, the number of international visitors reached a record level of 83.5 million, the seventh consecutive year of increase in the number of tourists. They spent 91.91 billion euros.

    Spain is the second most visited country in the world, after France, and tourism counts to about 12% of the Gross Domestic Product.

  • 29% of Romanians believe that cash spreads coronavirus

    29% of Romanians believe that cash spreads coronavirus

    1 in 2 Romanians does not believe at all that cash contributes to the spread of the new coronavirus, a Reveal Marketing study shows.

    In contrast, 29% of respondents state the opposite – they are confident that cash can spread the virus. Those who are passive on this subject represent 21% of respondents.

    Those who believe that the virus can be transmitted by cash are the youngest respondents – single millennials – 36%.

    At the opposite pole are 63% of young professionals, followed by more than half of single adults (55%).

    Similarly, about half of modern families (49%) and half of traditional families (51%) do not expect the money to influence the transmission of the new coronavirus in any way.

    Looking at the entire sample, 21% of Romanians do not express any strong opinion on this subject. The passive segments in this regard are retired seniors – 32% of them are neutral on this question, as are 22% of modern families.

    Romanian to pay less with cash this year

    More than half of Romanians (55%) say that next year they will use less and less cash – especially educated adults and those without a partner.

    67% of single adults and 63% of modern families say that in 2021 they will make fewer cash payments.

    Even 62% of retired seniors agree. Instead, a third of Romanians (33%) believe that they will use as much cash in the next year as they used in 220.

    Traditional families and young professionals are equal (about 40% in both segments) in terms of payment habits – they will use as much cash as last year.

    Only 2% of respondents say they will use more cash this year, and 10% selected „Don’t know” when asked about their payment habits next year.

  • M&A activity in 2020 in CEE at the lowest levels in the past 10 years

    M&A activity in 2020 in CEE at the lowest levels in the past 10 years

    M&A activity in emerging Europe took a hit in 2020 as a result of the coronavirus pandemic with the volume of deals reaching its lowest levels in the past 10 years.

    There were 1,705 deals with a combined value of EUR 60.80bn, down by 12.9% and 16% respectively from 2019.

    In spite of the ongoing restrictions, the market showed signs of recovery towards the end of the year, producing the highest fourth-quarter deal value (EUR 24.28bn) since 2016.

    Capital markets bounce back, PE holds steady

    In what mirrored a global trend, there was a revival of investor confidence in the capital markets with 26 companies from the emerging Europe region listing for the first time, reaching a total value of EUR 4.79bn.

    This was almost double the 14 IPOs in 2019 and represents the highest number of IPOs since 2015.

    Private equity deal flow seemed to have withstood the difficult market conditions of 2020, and while cautious at times, held steady with 319 transactions (318 in 2019) and a decrease in value by 11.1% from 2019.

    The financial services sector saw the biggest jump in the number of private equity deals, up from 15 in 2019 to 33 in 2020.

    Since CMS first published the report, private equity funds have consistently grown their share of M&A in the region: in 2011, it accounted for 6% of the total volume of deals, rising to nearly one-fifth (18.7%) in 2020.

    Foreign investors cautious but regional ones defy the odds

    Foreign investors were more cautious as reflected by cross-border M&A deal numbers decreasing by 34.3% to 764 and values falling by 31.5% to EUR 35bn.

    The US remained the largest foreign investor by volume, despite a 23% drop to 94 deals, while UK investors were the second most active with 72 deals, followed by Germany with 61 deals.

    The opposite was true of domestic deal activity within countries in emerging Europe. Domestic deal numbers jumped 18.4% to 941 and 21.2% by value to EUR 25.8bn. Companies from Russia, Poland, Turkey and Czech Republic were the busiest dealmakers from within the region both in their own markets and abroad.

    Romania registered 136 transactions (as in 2016 and more than in 2018, but 7 less than in 2019), with a volume totalling EUR 2.62bn (6.9% less than in 2019). However, almost half of this value was provided by a single transaction: the sale of CEZ assets worth EUR 1.2bn.

    Leading sectors

    Telecoms & IT was the most active sector by volume with 333 deals (up from 300 in 2019) and second by value at EUR 12.97bn, driven by the rapid acceleration of digitization and adoption of digital communications caused by the pandemic.

    The sector accounted for six of the 20 largest deals in region, including the third largest of all, the EUR 3.7bn purchase of Poland’s Play Communications by France’s Iliad.

    Mining (incl oil & gas) was the top sector by value at EUR 14.1bn despite falling deal volumes. While Real Estate & Construction dropped to second place by deal volume and third by deal value, the logistics and warehousing sub-sector saw a 38.5% increase in deals (from 39 to 54) in 2020, a trend demonstrating the need to support the growth in e-commerce.

    The financial sector enjoyed 12 additional deals and a 39% rise in values, lifted by some of the region’s largest transactions including the purchase of the regional businesses of AXA by Uniqa Insurance of Austria and those of Aegon by Vienna Insurance Group.

    Country hotspots

    Poland was the only country where both deal volume and value rose in 2020 – 9.3% to 282 deals and 6.6% to EUR 11.7bn, respectively.

    The country saw two landmark deals: the EUR 3.7bn purchase of Poland’s mobile operator Play Communications by France’s Iliad which was the largest Telecoms & IT deal, and Allegro’s IPO, the biggest company to list on the Warsaw Stock Exchange.

    These figures and other findings are part of the CMS Emerging Europe M&A 2020 report.

  • 36% of employees think they will return to the office in 2021, along with the entire team

    36% of employees think they will return to the office in 2021, along with the entire team

    More than a third (36.5%) of employees who responded to a recent survey initiated by Genesis Property believe that the entire team within the company they are working for will return to the office this year.

    Most say that offices have become an important part of their job in the context of Covid-19 and over 57% will evaluate this aspect more closely in the future, when they will seek a new job.

    While proximity of the office to their home remains an important factor for most employees (65%), the pandemic year increased the importance of health measures taken in the building (for 51% of respondents) and of the workspace structure, with greater emphasis on delimited offices that facilitate distancing (for 49.3% of respondents).

    At the same time, 41% say that, from now on, they will carefully evaluate what technologies are available in the workplace to ensure better protection for their health and for the health of their colleagues.

    The post-pandemic office: safer and more creative

    Looking ahead, in addition to the health measures that more than 60% of respondents to Genesis Property’s survey consider necessary in office buildings today and in the future, many employees believe there is also room for further changes.

    52% believe that, in the future, offices should provide employees an integrated work, lifestyle, entertainment, and socializing experience.

    Another 45% consider that the current situation represents an opportunity for the integration of technologies based on artificial intelligence which can eliminate repetitive and routine activities whilst redefining how they will work in the future.

    Lastly, 40% want to have the opportunity to work in spaces that give them a better environment to manifest their creativity.

  • The Covid-19 vaccination certificate is not mandatory for travel to Greece

    The Covid-19 vaccination certificate is not mandatory for travel to Greece

    The vaccination certificate will not be a precondition for someone who wants to travel to Greece, said Greek Tourism Minister Haris Theoharis, cited by Novinite.

    Theoharis explained that coronavirus tests will be performed by those who are not vaccinated, but it remains to be seen what will happen, depending on the decisions of the health authorities, who will determine whether the tests will be requested for all visitors.

    He added that Prime Minister Kyriakos Mitsotakis’ proposal to the president of the European Commission was meant to shake the waters so that the EU could coordinate the vaccination issue.

    On Tuesday, Mitsotakis called for the creation of an EU-wide COVID-19 vaccination certificate to help relaunch pandemic-ravaged cross-border travel.

    Greek government announced that it will provide 25 million euros in funding for a tourism promotion campaign, in an attempt to attract more visitors this year.

    Greece’s tourism revenues last year reached 4 billion euros, compared to 18 billion euros in 2019, due to global travel restrictions.

  • EBRD delivers record investment in response to coronavirus pandemic

    EBRD delivers record investment in response to coronavirus pandemic

    European Bank for Reconstruction and Development (EBRD) responded to the coronavirus pandemic with record investment of €11 billion in 2020 through 411 projects in 38 countries.

    This represents a 10% in annual business investment relative to 2019, when the Bank provided €10.1 billion to finance 452 projects.

    In addition to its own funds, the EBRD also directly mobilised €1.2 billion from co-investors at a time when the global economy was suffering its most severe slump since the Great Depression of the 1930s.

    The Bank continued to concentrate its support on the private sector, which accounted for 72% of total EBRD investment last year.

    Due to the urgency of addressing the Covid-19 crisis, in 2020 the share of green investment fell to 29 per cent after 46 per cent in 2019. 

  • Only 2.7 million people visited Louvre Museum in Paris last year

    Only 2.7 million people visited Louvre Museum in Paris last year

    Louvre Museum in Paris was hit hard by the Covid-19 pandemic and the number of visitors in 2020 being 72% lower than in 2019, and revenues decreased by over 90 million euros, AFP reports.

    The most visited museum in the world was closed last year for six months, receiving only 2.7 million visitors in 2020, compared to 9.6 million visitors in 2019.

    The absolute record was set in 2018, when 10.2 million visitors were registered.

    In addition, if in a normal year foreign tourists represent 75% of the people who enter the Louvre museum, in 2020 the French accounted for 84% of visitors.

    Lost revenues in 2020 are estimated at over 90 million euros, while aid from the French state amounts to 46 million euros.

  • European Union to buy another 100 million doses of the Pfizer/BioNTech vaccine

    European Union to buy another 100 million doses of the Pfizer/BioNTech vaccine

    European Union new agreement with Pfizer and BioNTech could double coronavirus vaccine stocks, Bloomberg reports.

    According to Bloomberg sources, the new contract would include 100 million doses of the vaccine as well as an option for another 200 million doses.

    EU steps to secure new doses vaccine come a week after the European Commission decided to exercise its option to buy an additional 100 million doses of the coronavirus vaccine developed by Pfizer and BioNTech.

    The European Commission has already ordered 200 million doses of this vaccine.

    In total, the EU has signed agreements for 1.3 billion doses of vaccine with Pfizer / BioNTech, Moderna, Johnson & Johnson, AstraZeneca / Oxford, Sanofi / GSK and CureVac, with options to purchase another 660 million doses.

  • Lockdown in Greece, extended until January 10

    Lockdown in Greece, extended until January 10

    The Greek government announced on Saturday a new extension, until January 10, of the restrictive measures imposed in the country for two months due to the COVID-19 pandemic.

    This ends the flexibility during the end-of-year holidays, AFP reports.

    Originally scheduled to end on January 7, ”restrictive measures will start on Sunday and last until January 10 for preventive reasons”.

    People are only allowed to go to the doctor, to the pharmacy, for jogging and exercise. Only grocery stores and drug stores are open and employees are advised to opt for remote work.

    Wearing a mask is mandatory both inside the buildings and outside and traffic is prohibited between 22:00 and 05:00.

    A strict lockdown, with traffic restrictions during the night to limit the spread of the second wave of the epidemic in the country – much more virulent than the spring – was adopted on November 7, being extended for the first time in early December for another month.

    Greece registered 4,881 deaths due to COVID-19 and 139,447 cases of contamination at a population of 10.7 million.

    More than 4,000 deaths have been reported in the last two months.

  • Greece tourism is set to recover next summer

    Greece tourism is set to recover next summer

    Greece’s tourism sector is set to recover next summer said Yannis Retsos, head of the Hellenic Tourism Confederation (SETE), to Reuters.

    The tourism sector in Greece, severely affected by the pandemic, is crucial for the country’s economy, given that it is responsible for about 20% of the GDP and one in five employees works in this field.

    Greece’s tourism revenues stood at 4 billion euros this year, compared to 18 billion euros in 2019, due to global travel restrictions, said Yannis Retsos.

    According to data recently released by the Central Bank of Greece, arrivals of foreign visitors fell by 76% in the first ten months of this year.

    In 2019, Greece registered a record year with over 34 million visitors.

  • Poland to aid Covid-19 affected companies with another USD 9,5 bln

    Poland to aid Covid-19 affected companies with another USD 9,5 bln

    The Polish government wants to launch a new support package worth 35 billion zlotys ($ 9.5 billion) for companies that have suffered from the partial quarantine introduced in the context of the latest pandemic wave, DPA reports.

    The aid will be targeted mainly at companies that were ”particularly affected by the virus in October, November and December” and has already received European Commission approval, Prim Minister Mateusz Morawiecki says.

    Poland has reimposed a number of measures to combat the pandemic, including the closure of gyms and indoor swimming pools, as well as a ban on hotel use, except for business travel.

    Some of the restrictions on shopping malls were lifted in the run-up to Christmas, but will be reintroduced shortly after the holidays.

    Since the beginning of the pandemic and until now, Poland has offerd companies aids worth 150 billion zlotys, of which almost 61 billion zlotys in the form of direct liquidity injections.

  • More than half of Romanians are scared, worried and anxious about the 2020 holidays

    More than half of Romanians are scared, worried and anxious about the 2020 holidays

    Asked how they intend to spend their holidays this year, 85% of Romanians said they would stay home. Only 16% of the respondents stated that they intend to visit the family who lives in the same city and only 4% state that they would visit their relatives outside the city.

    22% of young professionals and 21% of traditional families are among those who are willing to leave their homes on holidays.

    In addition, only 5% of the respondents stated that they intend to visit friends in the same city during holidays.

    The lowest percentage is observed in the case of those willing to travel outside the country for the holidays: only 1% of Romanians chose this option.

    Concern and fear: Romanians’ main emotions towards the 2020 winter holidays

    The study measured Romanians’ emotions regarding the 2020 winter holidays, looking at four categories of emotions grouped as follows: fear / anger, fatigue / boredom, optimism / joy, calm / relaxation.

    The results show that the highest percentage is recorded in the area of ​​negative emotions such as fear / anger and fatigue / boredom.

    More than half of Romanians (56%) say that this year they feel negative emotions when it comes to the winter holidays in the current context.

    Over a third (33%) of respondents say they feel nervous, worried, anxious or scared when thinking about the holidays in 2020. 12% of Romanians say they feel worried, and among the analyzed segments, retired seniors experience this emotion to the largest extent – 17%.

    Almost a quarter of respondents (23%) say they currently feel disappointment, sadness or fatigue. In this area, 12% of respondents say they are disappointed with this year’s holidays.

    In terms of positive emotions, 44% of Romanians say they feel optimistic, calm or relaxed.

    29% of single adults, followed by 24% of modern families are the most optimistic, compared to the rest of the segments, when asked to assess their feelings about the 2020 holidays.

    What gifts do Romanians want this year?

    In terms of gifts, Romanians would like to receive gadgets the most. According to Reveal Marketing Research data, over 40% of Romanians prefer to find smartphones, tablets, laptops or smartwatches under the Christmas tree.

    We notice a difference between women and men in this regard, women prefer gadgets to a greater extent than men: 45%, compared to 36% of men with this option.

    These percentages are interesting because, in general, men were the ones who were most attracted to technology. Today, we notice the dynamics are starting to change.

    Compared to the rest of the segments, young people are most eager to receive gadgets: single millennials and young professionals have equally selected this option (51% – for each segment).

    Over a quarter of respondents (26%) would like to receive Christmas clothes, and among the analyzed segments, those who prefer these gifts the most are traditional families (32%).

    Single millennials, as we’ve mentioned, are big fans of gadgets, so in terms of clothing, only 16% of them said they prefer to receive holiday clothes.

    Reveal Marketing Research data shows that jewelry is also on the gift list of Romanians, with 25% of Romanians who have selected this option when asked what they would prefer to receive for holidays.

    Then, 21% of all respondents opted for perfume as a Christmas gift. Among the analyzed segments, the most eager to receive a perfume are young professionals, scoring a percentage of 45% for this option.

    Among Christmas gifts, an equally popular option is health. 1 in 4 Romanians wishes to be healthy and does not think about material holiday gifts.

    Moreover, the context of COVID-19 may be an additional reason for respondents to be more concerned about their health. Retired seniors, followed by traditional families, mostly opted for this option when asked what they want for the holidays – 30% and 28%, respectively.

    On the other hand, only 5% of Romanians would like to receive money as a Christmas gift.