Commenting on the economic situation in the French Riviera, Jean-Pierre Savarino, president of the Chamber of Commerce and Industry, could not have been more succinct: “the normal activity is not there.”
Accompanied by Christian Delhorme, regional director of the Bank of France, and his collaborators who painted a macroeconomic picture, the figures are already known: GDP 2020: -8.3% [Eurozone – 6.8], purchasing power (PAC) +0.3, unemployment rate 8.9, emergency measures and recovery 4.9, state-guaranteed loans (PGE) 131 billion euros, Jean-Pierre Savarino presented a bleak situation: “The health crisis has caused a collapse of all economic indicators.”
Of course, the situation contrasts between the food trade (+1.5%) and the hospitality sector (-52%). More specifically, the 2020 report for the Nice area shows a revenue decline of -16% and a -7% job loss compared to the previous year. The Var plain (which is expected to be the spearhead of the OIN) shows -16% and -6%, respectively.
Regarding 2021, the situation indicates that difficulties for businesses are far from over: a 69% decrease in demand, a 31% delay in customer payments, and an 11% delay in supplier payments. The morale of company executives and leaders is affected by the lack of short-term visibility: 67% of them see a potential third lockdown as the most serious threat. Hence the uncertainties: 43% express concerns while 44% are confident.
In these times, is it perhaps too much to ask for clear ideas?
