10.9 C
Thursday, March 23, 2023
HomeNewsCities In Germany Have Been Struck Hard By The Coronavirus Pandemic

Cities In Germany Have Been Struck Hard By The Coronavirus Pandemic


Related stories

Humanity In Danger ? – Charles Akor

Climate change is one of the greatest challenges facing...

GAF Speaks Out Regarding Troops’ Invasion In Ashaiman

The Ghana Armed Forces have issued a statement signed...

Soldiers Invade Ashaiman Over Death Of Their Colleague

Netizens of Ashaiman-Taifa, a suburb in the Greater Accra...

Scientific Rigging of 2024 Election Possible with Ghana Card

Today, Prof. Attafua himself said on Asempa that Biometric...

According to a leading German research center, cities are especially hard-hit by the coronavirus pandemic in terms of finances.

According to the Munich-based ifo Institute’s report, unemployment rose faster in cities and the market environment deteriorated more than elsewhere.

“Social consumption plays a greater role in the cities. This is where the effects of the pandemic hit particularly hard,” Andreas Peichl, director of the ifo Centre for Macroeconomics and Surveys, expressed his opinion.

“Because less manufacturing is located in cities, they also benefited less from the recovery in the sector in the second half of 2020,” Peichl said.

It is too early to predict whether cities would be winners in the long run, according to the study.

On the one hand, post-crisis catch-up results are expected to favor cities more than the average. Trends such as working from home, on the other hand, may make central city locations less appealing to businesses, implying that “they may migrate to cheaper rural areas.” 


- Never miss a story with notifications

- Gain full access to our premium content

- Browse free from up to 5 devices at once

Latest stories



Please enter your comment!
Please enter your name here