Even with a gradual easing of the distancing measures, recovery in these segments will depend on the time it takes for the fears accumulated in the past months to be dispelled. A significant share of the demand for these sectors’ products and services relies on tourism, to which over 5 per cent of GDP and 6 per cent of employment is directly attributable.
A long-argued issue in the economics of growth and development is whether greater equality of income is causally associated with more or less development – this is a topic that has been receiving a welcome degree of renewed interest internationally.