{"id":29768,"date":"2021-11-15T20:51:49","date_gmt":"2021-11-15T17:51:49","guid":{"rendered":"https:\/\/saudishopper.com.sa\/en\/?p=29768"},"modified":"2026-03-27T23:44:08","modified_gmt":"2026-03-27T20:44:08","slug":"mastercard-economics-institute-lodging-small-businesses-thrive-in-middle-east-and-africa-in-2021","status":"publish","type":"post","link":"https:\/\/saudishopper.com.sa\/en\/mastercard-economics-institute-lodging-small-businesses-thrive-in-middle-east-and-africa-in-2021\/","title":{"rendered":"Mastercard Economics Institute: Lodging Small Businesses Thrive in Middle East and Africa in 2021"},"content":{"rendered":"\n<h2 class=\"has-text-align-center wp-block-heading\"><strong><u><em>Small businesses globally go digital at three-times pre-pandemic levels\u00a0<\/em><\/u><\/strong><\/h2>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Riyadh, Saudi Arabia; 15 November 2021:<\/strong>&nbsp;To shed light on the impact the global health crisis \u2013 and ongoing recovery \u2013 has had on small businesses globally, Mastercard released&nbsp;Recovery Insights: Small Business Reset.&nbsp;The report revealed that in the Middle East and Africa, lodging small businesses have consistently outperformed larger businesses in 2021 as people traveled locally.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Looking at 19 markets around the world, the report reveals that sales at small- and medium-sized businesses (SMBs) lagged larger companies by up to 20 percentage points at the peak of the crisis. However, spending has recovered in 2021. Total sales at SMBs rose 4.5% through August 2021 year-to-date compared to the same period in 2020, while e-commerce sales are up 31.4%.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Drawing on the Mastercard Economics Institute\u2019s new Small Business Performance Index* of aggregated and anonymized sales activity within the Mastercard network, Recovery Insights: Small Business Reset identifies several key trends:<\/p>\n\n\n\n<ul class=\"wp-block-list\"><li><strong>Closures:&nbsp;<\/strong><strong>Globally, small businesses that closed early in the pandemic were about three times as likely as larger businesses to remain closed long term.&nbsp;<\/strong>One-third of small businesses that closed in April 2020 remained closed after six months, and about one-fifth were still closed after 12 months.&nbsp;<strong><\/strong><\/li><li><strong>Location:&nbsp;<\/strong><strong>Spending at SMB retailers in central business districts is down 33% vs. 2019, while sales within more residential neighborhoods grew 8%.&nbsp;<\/strong>As tourists and workers stay closer to home, small businesses in commercial districts around the globe are seeing sales suffer.&nbsp;<\/li><li><strong>E-Commerce:&nbsp;<\/strong><strong>Following shutdowns, the number of businesses going online each month tripled from pre-pandemic levels, peaking in July 2020.&nbsp;<\/strong>This reflects increased demand for an online sales channel, as well as the slight lag after lockdowns began to bring it into reality. The shift to digital has persisted at an elevated level globally since.<\/li><li><strong>Entrepreneurship:&nbsp;<\/strong><strong>One-third more small retailers launched in 2020 than in 2019, nearly 8x the number of larger firms created.&nbsp;<\/strong>This trend of considerable new SMB formation in 2020 is reflected around the world: U.K. (+101%), U.S. (+86%), Australia (+73%), Germany (+62%), Brazil (+35%) and South Africa (+13%).&nbsp;<strong><\/strong><\/li><li><strong>Sectors &#8211; Restaurants &amp; Lodging:&nbsp;<\/strong><strong>In Middle East and Africa (MEA), small lodging businesses have consistently outperformed larger businesses in 2021, seen specifically in South Africa.<\/strong>&nbsp;Where people are traveling, the trend to stay local has benefited small lodging companies (and hurt big cities\u2019 big hotels). Globally, restaurants were a different story, with SME eateries underperforming large ones by roughly 17 percentage points in 2021 YTD.&nbsp;&nbsp;&nbsp;<\/li><\/ul>\n\n\n\n<p class=\"wp-block-paragraph\">\u201cSupporting neighborhood businesses has been a rallying point throughout the pandemic. However, the challenges faced have been very real, due to their dependency on local markets, local supply chains and tighter cash flows,\u201d said&nbsp;<strong>Bricklin Dwyer, Mastercard chief economist and head of the Mastercard Economics Institute.<\/strong>&nbsp;\u201cBut, we see brighter opportunities ahead. The shift to digital opened the door to the pandemic&#8217;s silver lining: a resurgence of entrepreneurship and innovation.\u201d<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Supporting small business owners is a continued priority for Mastercard, which pledged to bring 50 million small businesses and 25 million women entrepreneurs into the digital economy by 2025. Mastercard\u2019s\u00a0<a href=\"https:\/\/www.mastercard.us\/en-us\/business\/overview\/grow-your-business\/digital-curriculum.html\" target=\"_blank\" rel=\"noreferrer noopener\">Digital Doors<\/a>\u00a0curriculum helps businesses get online and stay protected, ensuring they have the right tools to maximize their digital presence and integrate e-commerce seamlessly, including the free\u00a0<a href=\"https:\/\/www.mastercard.com\/news\/press\/2020\/october\/is-your-business-ready-for-the-digital-future-mastercard-launches-small-business-digital-readiness-diagnostic-to-help-businesses-go-digital\/\" target=\"_blank\" rel=\"noreferrer noopener\">Small Business Digital Readiness Diagnostic<\/a>. Most recently, Mastercard committed $25 million to help more than five million micro and SMBs digitize through the\u00a0<a href=\"https:\/\/www.mastercardcenter.org\/press-releases\/mastercard-strive\">Strive<\/a>\u00a0initiative.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Mastercard also works closely with governments, businesses and other organizations around the world to create environments, programs and policies so small businesses can flourish. Mastercard provides high-frequency, local spending insights to dozens of city, state and federal governments as part of our\u00a0<a href=\"https:\/\/citypossible.com\/\" target=\"_blank\" rel=\"noreferrer noopener\">City Possible<\/a>\u00a0and\u00a0<a href=\"https:\/\/www.mastercard.com\/news\/press\/press-releases\/2020\/may\/mastercard-launches-recovery-insights-initiative-to-inform-business-and-government-economic-response-efforts\/\">Rec<\/a><a href=\"https:\/\/www.mastercard.com\/news\/press\/press-releases\/2020\/may\/mastercard-launches-recovery-insights-initiative-to-inform-business-and-government-economic-response-efforts\/\" target=\"_blank\" rel=\"noreferrer noopener\">o<\/a><a href=\"https:\/\/www.mastercard.com\/news\/press\/press-releases\/2020\/may\/mastercard-launches-recovery-insights-initiative-to-inform-business-and-government-economic-response-efforts\/\">very Insights<\/a>\u00a0programs, as well as content such as the recent\u00a0<a href=\"https:\/\/www.mastercard.com\/news\/research-reports\/2021\/reimagining-sme-support\/\" target=\"_blank\" rel=\"noreferrer noopener\">policy paper<\/a>\u00a0addressing ways governments can support SMB recovery.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">You can view\u00a0the full\u00a0Recovery Insights: Small Business Reset\u00a0<a href=\"https:\/\/www.mastercardservices.com\/en\/recovery-insights\/small-business-reset?cmp=2021.q4.mea.mena.smb.dir-res.ser.smb.recovery-insights:-small-business-reset.7013j0000010hbbaay.otc.txt.others.newsroom.press-release\">here<\/a>.\u00a0This is the fifth report in the Recovery Insights series; other reports can be found\u00a0<a href=\"https:\/\/www.mastercardservices.com\/en\/expert-insights\" target=\"_blank\" rel=\"noreferrer noopener\">here<\/a>.\u00a0\u00a0<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Small businesses globally go digital at three-times pre-pandemic levels\u00a0 Riyadh, Saudi Arabia; 15 November 2021:&nbsp;To shed light on the impact the global health crisis \u2013 and ongoing recovery \u2013 has had on small businesses globally, Mastercard released&nbsp;Recovery Insights: Small Business Reset.&nbsp;The report revealed that in the Middle East and Africa, lodging small businesses have consistently [&hellip;]<\/p>\n","protected":false},"author":13,"featured_media":29769,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_yoast_wpseo_meta-robots-noindex":"","_et_pb_use_builder":"off","_et_pb_old_content":"","_et_gb_content_width":"","_pr_autopilot_social_copy":"","_yoast_wpseo_opengraph_title":"","_yoast_wpseo_opengraph_description":"","_yoast_wpseo_opengraph_image":"","_yoast_wpseo_opengraph_image_id":0,"_yoast_wpseo_twitter_title":"","_yoast_wpseo_twitter_description":"","_yoast_wpseo_twitter_image":"","_yoast_wpseo_twitter_image_id":0,"_yoast_wpseo_primary_category":24,"_extra_hide_author_box":"","_extra_featured_post":"0","_partner_post_id":0,"footnotes":""},"categories":[24],"tags":[],"class_list":["post-29768","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-economy","et-has-post-format-content","et_post_format-et-post-format-standard"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.7 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Middle East and Africa - Lodging SMEs Thrive in 2021 | | Saudi Shopper<\/title>\n<meta name=\"description\" content=\"Middle East and Africa lodging small businesses outperformed larger firms in 2021 as local travel surged. 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