COVID-19: operators’ business revenue results from 1Q 2020 show that the crisis is starting to take effect
Operators’ quarterly investor reports for 1Q 2020 were filled with warning signs about the impact of the COVID-19 crisis. A temporary end to business travel, financial difficulties, business closures, rising unemployment, an increase in bad debt and the implications of a recession were all mentioned as concerns.
The crisis comes after what was a reasonably successful 2019. Indeed, many operators reversed negative revenue trends. The weighted average for business revenue growth increased from –0.6% worldwide in 2018 to 1.2% in 2019.1 However, operators expect that business revenue will decline significantly in 2020.
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