Introduction
The recent hits of pandemic and COVID-19 waves have rendered most economies out of shape. Even the biggest EU economy Germany has been going through some tough times due to recent restrictions of travel bans and tourism halts. Germany is a country that has been able to get out of the massive destructive forces of First and Second World Wars. It is not wrong to say that the country has proven its brass from time to time and stay among the forerunner when it comes to economic prosperity. Same is the case for the current situation. Despite the pessimistic numbers of COIVD recovery cases in the country, the region is showing positive signs and green flags about the economic reset in the ongoing year.
Why Germany is Doing Better in the Economic Index
The German city of Frankfurt that has been known as a world renowned tourist destination has shown to predict the recovery of lost numbers of tours in the upcoming vacation season. There are many people who have made early reservations and a rush hour on all major tour stops is expected in the year 2021. However, there are grave concerns rising from around the world about secondary waves of the pandemic to hit the general public in near or distant future. Other than the tourism industry, the trade and manufacturing sector has also managed to remain afloat during this time of distress.
Major employer of the Germany region the automobile manufacturers have been able to keep the operations running smoothly with the help of COVID precaution compliance. On the other hand, the cafes, restaurants, fast food chains, and others that had to interact with customers face to face have taken a major hit due to quarantine rules. The rush in the markets places and business activity in the shopping malls has also encountered a visible decline in the preceding year.
However, the German business analysts are certain that the economy would jump start in the ongoing year and may cross the previous thresholds due to the increase in demand of the major services. According to the latest index readings of January, a 92.4 point increase in output was measured. The economists and business analysts are taking this as a good start to an expectantly slow year. On the other hand, Jens Spahn the German Health Minister has showed some concerns about the COVID reduction statistics.
Conclusion
This year, the schools and colleges are opening up again in Germany. Students are also suffering from a lack of educational independence during the pandemic and online classes and examination are quite lagging in progress. As the time is passing, the retail sector is coming out of the shock and other major businesses have already started to pick up the slack from last year. The biggest expectations are connected with the tourism industry and hospitality business. There is an sense of cautious optimism found in the German territory about up and coming vacation season this year.
