The UK economy, being a serviced-based economy was hit particularly hard compared to the other G7 nations. It is however also on the path to a potentially faster recovery than many of those same G7 nations, with recently announced schemes by Rishi Sunak, the UK’s Chancellor of the Exchequer playing no small part in what appears to be an impending recovery.
Rex Ekaireb, with decades of experience in the UK business, jewellery and property sectors said of the recovery: “This recovery for the UK economy is unlikely to happen and come to full fruition over the course of a month or two. Much more likely is that the UK will see sector by sector improvements, ultimately benefiting a wide range of sectors. That said, there will be some parts of the UK economy and UK-wide industry that will be slower to recover.”
Rex Ekaireb also commented: “Industries like travel and theatre, which by their very nature require mingling and mixing of people in sometimes very enclosed spaces will take some time to see the recovery that sectors like construction and retail are seeing. But, give it time and they should start to see many of the positive signs others are starting to.”