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Consumer lending in Argentina has been significantly impacted by the COVID-19 outbreak, with self-isolation and lockdown measures making it difficult for consumers to apply for loans. Consequently, many people postponed purchases of some non-essential goods, although various government programmes helped to support demand. The economic situation is thus precarious, with the risk of unemployment looming closer than ever for a growing share of the population. In addition to growing pressure on…Continue
Unlike debit and credit cards, in Argentina charge cards has not benefited from the shift away from cash among consumers fuelled by COVID-19. The pandemic brought the majority of business travel to a halt in Argentina, both nationally and internationally, as government travel restrictions and company no-travel policies were implemented. This consequently led to a significant decline in the use of commercial charge cards, which are often used for travel and hotel bookings.
The substantial drop in inbound arrivals along with the introduction of mandatory quarantine measures from 1 April led to most lodging operators seeing extremely low occupancy rates during the first quarter of 2020. Hotels typically popular with groups of Chinese travellers have suffered most severely as inbound arrivals from China nosedived. Operators continue to actively promote their services to domestic travellers in order to survive the pandemic and remain keen to emphasise the…Continue
Global travel restrictions have severely negatively impacted airlines during 2020, and local airline operators have turned to focus on expanding domestic flights and offering them at promotional prices in a bid to convince South Koreans to return to the skies.