In the first quarter of this year, the number of bankruptcies in the Netherlands more than halved compared to 2015, while it was almost at the same level in the European Union. According to Statistics Netherlands (CBS), the number of companies going bankrupt during the corona crisis has dropped to a historically low level. In the EU, this number has actually increased. According to the statistics office, this is likely due to various government support measures during the pandemic.
The development of the number of bankruptcies in the hospitality sector in particular deviated from the European average in the corona years. “While in the Netherlands the number of bankruptcies first increased among hotels, restaurants and cafes, to over 156% of 2015 level in the second quarter of 2020, it then started to decline. For the EU as a whole, d’ on the other hand, the bankruptcy rate in the hotel and restaurant sector has first decreased and then increased for a number of quarters’, according to Statistics Netherlands.
Fast rise
The agency also notes that the number of bankruptcies in the Netherlands increased faster than the EU average in the first quarter of 2023. There were 7% more Dutch companies going bankrupt than in the previous quarter. For the EU as a whole, 3% more companies went bankrupt during that period. The Netherlands also recorded a faster increase than its neighbors at the end of last year.
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Source: BNR
Andrew Dwight is an author and economy journalist who writes for 24 News Globe. He has a deep understanding of financial markets and a passion for analyzing economic trends and news. With a talent for breaking down complex economic concepts into easily understandable terms, Andrew has become a respected voice in the field of economics journalism.
