WEBVTT

00:00:00.100 --> 00:00:04.700
www.forecast.global

00:00:04.700 --> 00:00:06.380
Business resilience in uncertain times

00:00:06.380 --> 00:00:11.860
I'm standing in front of an empty Sydney
CBD with intracity movement down over

00:00:11.870 --> 00:00:17.740
85% over the last couple of months
compared to the pre-Covid times but

00:00:17.750 --> 00:00:21.380
what's really pleasing to see is the
ongoing development of the Crown complex

00:00:21.380 --> 00:00:26.449
and other development around the city
ready for a post-Covid world when the

00:00:26.449 --> 00:00:29.320
city comes back to life. The impact on
the Australian economy has been

00:00:29.320 --> 00:00:33.710
significant as a result of Covid in
three sectors in particular: tertiary

00:00:33.710 --> 00:00:38.780
education, tourism, and property. The
tertiary education sector was first hit

00:00:38.780 --> 00:00:43.520
when Australia's border was closed and
foreign students couldn't get into the

00:00:43.520 --> 00:00:47.510
country ready for new university year
then as a result of their limitations on

00:00:47.510 --> 00:00:51.739
public gatherings campuses around
Australia are now effectively closed to

00:00:51.739 --> 00:00:56.539
students and the impact on revenue to
that sector has been significant; tourism

00:00:56.539 --> 00:01:01.399
sector was impacted first of all by the
bush fires and then by the closure of

00:01:01.399 --> 00:01:05.870
both international and state borders
meaning that that sector really has

00:01:05.870 --> 00:01:09.650
ground to a halt over the last two
months we've seen the impact of the

00:01:09.650 --> 00:01:15.079
collapse of the cruise industry and
virgin air going into administration as

00:01:15.079 --> 00:01:19.909
two very visible results of that. The
property sector has been hit by large

00:01:19.909 --> 00:01:25.759
reduction in the number of new builds
restrictions on open homes and

00:01:25.759 --> 00:01:31.520
auctions and rental defaults both
commercial and residential. What we're

00:01:31.520 --> 00:01:36.979
finding at Forecast is as we work with
our clients to get them through the

00:01:36.979 --> 00:01:41.689
crisis and into a de-risking and
resilient stage is the ability to

00:01:41.689 --> 00:01:46.130
forecast forward under a number of
scenarios given that it's an uncertain

00:01:46.130 --> 00:01:51.560
future that we're all operating in.
We've got clients across all three of

00:01:51.560 --> 00:01:55.969
those industries and we're supporting
them as they set their business up to be

00:01:55.969 --> 00:02:00.720
resilient through this phase and then to
come out the other side stronger and

00:02:00.720 --> 00:02:02.060
better for it

00:02:02.060 --> 00:02:07.100
www.forecast.global