3.6 MLN Price Tag on Montserrat’s Economic Disruptions Due to COVID-19
The business impact assessment conducted by the Trade and Quality Infrastructure Division, Office of the Premier has found that 3.6 million dollars in economic disruptions has occurred due to the COVID-19 pandemic, among other findings.
The Business Impact Assessment for the local private sector was successfully conducted during the period March 25 to April 13 to determine the level and type of impact faced by this sector, as a result of the COVID-19 pandemic, and the resulting measures which were implemented by the Government of Montserrat to control and contain the spread of the disease.
A total of 285 businesses participated in the activity from across various industries, to include agriculture, construction, tourism, taxi and tours, among others. 254 businesses highlighted that ‘Loss/Reduction in Revenue’ was the major impact experienced.
The report from the Business Impact Assessment noted that the economic interruptions have had a direct impact on the livelihoods, of 85% or almost 900 individuals represented in the assessment.
The results from the assessment are captured in the attached COVID-19 Business Impact Assessment Report.
The report is also available on the government website.