Market Research Report
Retail Savings and Investments in Belgium - COVID-19 Impact Snapshot
|Published by||GlobalData||Product code||949840|
|Published||Content info||18 Pages
Delivery time: 1-2 business days
|Retail Savings and Investments in Belgium - COVID-19 Impact Snapshot|
|Published: July 7, 2020||Content info: 18 Pages||
The Coronavirus (SARS-CoV-2) outbreak, dubbed COVID-19, is first and foremost a human tragedy, affecting millions of people globally. The contagious Coronavirus, which broke out at the close of 2019, has led to a medical emergency across the world, with the World Health Organization officially declaring the novel Coronavirus a pandemic on March 11, 2020.
Fears surrounding the impact of COVID-19 have already significantly impacted the global economy, with most countries across the world registering dramatic declines in economic activity year-to-date. Many economists and institutions have cut their forecasts, as a number of countries have officially slipped into recession in Q1 2020.
A similar trend is expected in Belgium. As economic growth in the country dipped in the first quarter of the year, we expect the country to enter recession in Q2 2020. The decline had a significant impact on all sectors, including retail savings and investments. While Belgium, despite being one of the worst affected European countries, is now on the path to recovery with fewer active cases being reported and businesses gradually recommencing operations, retail savings are forecast to decline throughout the year.
This report focuses on the impact of the Coronavirus outbreak on the Belgian economy and the country's retail savings and investment market. It also highlights the measures adopted by the government to combat COVID-19. Based on our proprietary datasets, the snap shot contrasts GlobalData's pre-COVID-19 forecasts and revised forecasts of total retail bond, deposits, equities and mutual funds holdings in terms of value and growth rates. It also analyses the effects on HNW wealth, examining the importance of different industries as a contributor to HNW wealth.