One year in a pandemic economy

In 2020, the Dutch economy experienced its most severe contraction since the Second World War. Compared to other countries in the euro area, where this contraction was considerably worse on average, the Dutch economy has performed relatively well. Partly due to the support measures implemented by the Dutch government, there were actually fewer bankruptcies in 2020 (-15%) compared to the year before and producer confidence has returned to a neutral level after hitting a low point of -28.7 in April 2020. The unemployment rate rose only slightly, particularly in the hospitality industry.

The limited rise in unemployment has resulted in the continuity of paid wages, while options for spending have been limited. The result: more money in the savings accounts of people in the Netherlands. This is shown in the strong increase in the savings ratio. Relatively speaking, the Netherlands even shows the highest savings in the entire euro area. As a result of higher savings and the low savings interest rate, some households have made the decision to invest. The number of households with investments rose by 17% in 2020 and a record amount of 3.8 billion was invested in Dutch investment funds. This has led to a greater availability of investment capital in the Netherlands, with more capital set to find its way into the Dutch real estate market.

Sources Kantar, 2021, Number of households with investments in 2020 grew at an unexpected rate (17%), DNB, 2021, Capital of Dutch investment funds has grown to a record high of 1 trillion euros


Differences in impact per sector and within sectors

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