It’s a striking contrast to other major cities around the world that are starting to reopen and a blow to Taiwan’s retail and restaurant industries, which employ about 20% of the economy’s workers. Kang Yuan, a traditional Cantonese restaurant often frequented by Taiwan’s lawmakers, closed its doors earlier this month after two decades of business. If the situation seems like it will turn around, owners will hang in there for two to three months. But now, they just don’t see any hope.”Restaurants, hotels, and the retail sector are taking the biggest hit from Taiwan’s Covid outbreak. Most restaurants and stores will not see their sales recover to around half of their pre-outbreak levels until the government fully lifts its restrictions.

Source: The Edge Markets July 14, 2021 21:56 UTC