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BREAKDOWN: Surveying the Carnage: How Real Estate, Travel and Music Are Faring During the Crisis

100m jobs lost. 2.7T in GDP evaporates. Shutdowns lasting 18-24 months? A look at how the crisis is impacting key industries.

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The second order effects of the COVID-19 crisis are here, and they’re painful. In this episode, NLW looks at how COVID is impacting three industries:

Travel and tourism

  • 100m lost jobs expected globally
  • $2.7 in lost GDP
  • Airbnb lays of 25% of employees

Music & Concerts

  • From a record $12.2B concert year to a loss of $9B
  • Expectations of concert prohibition lasting up to two years
  • Industry organizing to be included in relief

Real Estate

  • Commercial real estate expecting 2.5% default rate for 5+ years
  • Negotiations around sales-based payment instead of traditional rent
  • Residential sees cratering demand but home prices remain up year over year