coronavirus pandemic, a new report warns. The financial downturn in the wake of the pandemic is as serious as the economic crash in 2008.
The shocking statistic comes from Academics at the University of Edinburgh's Business School, who worked alongside credit risk company, Wiserfund.
Researchers studied financial statements from 5,000 tourism and hospitality firms.Those companies, all in, employed 209,000 in 2019.
It's been revealed that 28 per cent of the firms would suffer 'mild stress', the same as businesses did in 2008. Around 58,280 jobs would be slashed, according to their figures.