GoDubai
  
  
  
  
Citylife > Press Release
  Home Contact us Add to Favourites
Most Recent Postings
More Press Releses
Featured Sections

Event Finder
A daily roundup of exhibitions, promotions and other events in Dubai and the rest of the Emirates.
Submit an Event
Latest Dubai Press Releases >>

 
  Share

Dubai, United Arab Emirates, March 24, 2020:   Although cancelled or delayed business trips emerged as the most visible initial impact of the virus, declining sales is expected to be the greatest commercial woe in the future 

As Coronavirus takes a toll on global and regional economies, YouGov ran a survey among 220 working professionals belonging to the senior management in various companies (senior business managers and above) between 9th- 15th March to understand the impact of the pandemic on their business and the overall economy. 


Four in five (79%) of the surveyed business professionals claimed the Coronavirus had a large or moderate impact on their business. 13% said the impact was minor and only 6% claimed to have no impact at all. Working residents within the income bracket of AED 20,001- 40,000 were more likely to feel the effect as compared to other income-group professionals.

 
Among the top ways in which the outbreak has affected their business was cancellation or postponement of business trips or external appointments, as said by 47% of the respondents. Almost as many claimed (43%) to introduce hygiene measure and supplies in the company. 


Many indicated there was a drop in sales (42%) and sensed insecurity and safety concerns among employees (42%). Roughly a quarter said they were facing HR-related issues such as- increased work from home (29%) and rise in employee sick leaves (24%). Another quarter (25%) were facing interruptions to the supply chain. One in five reported reduced operating hours (20%) and almost as many suffered office or store closures (18).
On a slightly positive note, 7% said they witnessed increase in sales as a result of this outbreak.

 
The data suggests further disruption on the horizon with four in five respondents (80%) saying the virus is very likely or fairly likely to affect their business in the future. Those aged 45+ were much more likely to say this as compared to their younger counterparts (89% saying this). 
One in six (17%) of all respondents, however, feel it's not likely or not very likely to have a future impact on their business. 


Although during the time of the survey, cancelled/ delayed business trips or appointments emerged as the biggest visible impact of the virus (said by 47%), declining sales is the greatest commercial woe foreseen by people in the future. A notably higher proportion (48%) are expecting to see decrease in sales in the future compared to those already seeing such a decline.


One in three feel there will be difficulty in communicating with foreign partners (32%) and just as many expect further interruptions to the supply chain (30%).
A slightly higher proportion than the ones who said this now believe there will be reduced operating hours (23%) and office or store closures (20%).
There are few (10%) who look at this as an opportunity and feel there will be increase in sales in the future.


Not only do UAE professionals see a bleak future for their businesses but most of them (88%) feel the Coronavirus will have a large to moderate impact on the country's overall economy. One in ten (10%) however, reckon the impact will be minor or none at all.


YouGov will continue tracking the impact of the virus on the business community and release new data next week.



Posted by : GoDubai Editorial Team
Viewed 4043 times
Posted on : Tuesday, March 24, 2020  
Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of GoDubai.com.
Previous Story : RAKEZ Launches Spring Packages With Online Set-Up Process for Hassle-Free Business Registration
Next Story : Airbus Announces Measures to Bolster Liquidity and Balance Sheet in Response to COVID-19
Email this article Print this article

Share this article with your friends and followers
NewsVine

Comments

Back to Top  
Most Viewed Press Release posted in the last 7 days
Eid Gifts From The Body Shop
Made in Italy, ICSA® Issues a Notification of Counterfeit Products Found in the ...
HONOR MagicBook Series is Perfect for Fashion Forward, Design Conscious Individu...
Dubai Customs and Omani Counterpart Discuss Post-Covid19 Era
Vatika Launches Natural Hair Food, an Effective Solution for Dry Hair
Union Coop Al Barsha – 3 Commercial Center 40% Complete
The Best Omega Sunglasses For a Long-Awaited Summer
Trina Solar Publishes Its Vertex Module Technology White Paper, Unveiling a Bran...
Omega Announces Its Role as the Official Timekeeper of the 36th America's Cup
Foreo Reveals 5 Ways to De-Stress Your Skin
Innovating to Fight COVID-19: Four Ways Drones are Contributing
Special Edition Jaguar XE, XF & Range Rover Vogue Vehicles Arrive in UAE
SALAMA Announces AED 13.65 Million Profit for Q1 2020
DTTAG New Executive Committee to Manage Post Covid 19 Return to Normalcy of Travel
Celebrate EID with Special Offers on HONOR Smartphones
DFDC, FDF Hold Joint Webinar on Managing Stress and Anxiety Amid COVID-19
Karl Lagereld Drives Digital Innovation With Launch of the “Maison Karl Lagerfe...
SITA Steps Up Development of a Self-sovereign Identity for Air Travel
Ethical JLT Salon THT is Supporting those whose Jobs have been affected during ...
Ericsson's USA 5G Factory: Staffed by Professionals – Trained by VR
Airline Debt to Balloon by 28%
Emirates Post Unveils Modern New Website and Look
Al Tayer Motors and Premier Motors Honour UAE's COVID-19 Frontline Heroes
du Keeps Loved Ones and Families Connected During Eid Al Fitr With World Calling Pack
Sony Middle East and Africa and Gearbox team up to offer rental services of late...
80th Anniversary of Maserati's Targa Florio Victory Maserati Tests an Mc20 Proto...
Blue Ocean for Islamic Finance Industry
Commodity Weekly: Crude Oil Frets Geopolitics, Sluggish Demand Bounce
ATM Virtual to Focus on Potential Chinese Outbound Travel Market
FEM Collaborates with Arab Comedian Maya Acra to Address the Taboo Around the To...
Tips for Keeping Your Smartphone Clean
Sony Middle East & Africa Introduces New Digital Camera ZV-1, designed for Vlogg...
Danube Group Chairman Files Case With Dubai Police Against Scam Star for Faking ...
Kingston Technology Ships 7.68TB Capacity for Industry-Leading High-Performance ...
Lincoln Aviator Presidential Takes on Bumps and Dips, Turning Every Trip into a ...
WTTC Launches Safe Travels Protocols for Aviation, Airports, MICE and Tour Operators
Al Majid Motors Announces the Arrival of All-New Kia K5 Fastback Sedan in the UAE
GEMS Innovation Awards 2020 Recognise Young Innovators after Virtual Showdown
Twentieth “World Milk Day” Sees NFPC Innovate With New Products That Meet Changi...
Former UNWTO Secretary-General to speak at ATM Virtual
Al-Futtaim Technologies Implements Genesys Remote Working Solutions to Ensure Bu...
Glaucoma: Symptoms and Treatment
How Do You Rely on Your Smartphone in the UAE During the New Normal?
Telenor, Sony and Ericsson Team to Develop Smart IoT Healthcare Devices
Dubai Culture Welcomes More Than 2,300 Students in Virtual Guided Tours at Etiha...
Ras Al Khaimah Government Launches Integrated Stimulus Package to Support the Em...
Parmigiani Fleurier Toric Fleur
SCCI, SIB Hold Virtual Meeting to Discuss Banking Sector Trends to Face the Curr...
Understanding COVID-19's Impact on the Transport Industry
DGW holds meeting to review updated strategic plan aimed at supporting national ...