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Covid-19 emergency in the US: over 10 billion dollars lost in a few months and over 700,000 jobs at risk in the fitness sector according to an IFO International Fitness Observatory survey.


Covid-19 emergency in the US: over 10 billion dollars lost in a few months and over 700,000 jobs at risk in the fitness sector according to an IFO survey.

Covid-19 emergency in the US: over 10 billion dollars lost in a few months and over 700,000 jobs at risk in the fitness sector according to an IFO International Fitness Observatory survey. 1

  • It is estimated that in the US, due to the Coronavirus health emergency, the economic loss of the fitness sector will amount to over 10 billion dollars by the end of the summer. With over 700,000 thousand jobs at risk, according to the data that emerged from the research of IFO (International Fitness Observatory), this sector calls for real structural interventions. Over 40% of clubs believe they will no longer have the resources to survive the crisis for over 3 months.

August 18, 2020: The fitness and sports industry is an important reality in the US economy.

IFO – International Fitness Observatory, in collaboration with Egeria, carried out a research coordinated by Dr. Paolo Menconi, President of the Observatory, involving over 7,400 clubs in the USA.

A leader in the sector internationally, in 2019 the fitness sector in the USA was constantly growing with about 64 million club members and with total revenues of about 35 billion dollars. This is a market has now entered its most dramatic moment.

Many clubs have sold short-term memberships and only 49% of clubs have more than half of the customers with an annual membership, sign of a financially fragile market.

Covid-19 crisis is having a strong impact on the fitness sector and the numbers provided by the clubs from the beginning of the crisis until late summer show the estimate of the loss to easily exceed 10 billion of dollars, with over 700,000 thousand jobs at risk.

Paolo Menconi, President of IFO, says: “The results of this research indicate that the fitness industry is in a very difficult and unprecedented time. We should not forget this is a sector that has a fundamental social role for the psycho-physical well-being of people and it is able to offer good deals for any budget. It should be protected with serious and concrete structural actions, both for employees and for customers, making it able to get back on its feet and continue to look ahead to the future.”

 

Over 70% of clubs believe that the measures taken so far by the Institutions are not sufficient to support the sector. They suggest the following Non-refundable/non-repayable economic loans for the sector (66.15%); Suspensions for a defined time necessary for tax duties and bills for the supply of electricity, gas and water (59.59%);

If the situation is difficult for everyone but the economic ability to withstand the crisis is different: 35% do not know how long they will be able to survive, 21% claim to have autonomy for 2 months. 40% of clubs may not make it in 3 months. In the fourth month of stop, the risk is that over 45% of the clubs won’t survive. Only 20% of clubs say they have the financial resources to last for five months.

 

For information:

Dr. Paolo Menconi

info@ifo.academy

www.ifo.academy

 

* Methodological note

1 June 2020 – 20 July 2020 is the period in which the Survey was carried out. 7,479 clubs in the USA received the questionnaire. 1,327 opened the email and started answering the questions but then did not fill in some answers of an economic and organizational nature on their Club, while 208 answered anonymously the questionnaire of 29 questions, with an average completion time of 7/8 minutes.

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Tutorfair launches Online Study Groups to help students catch up on lost learning during lockdown


Tutorfair’s Online Study Groups Project has been selected by Innovate UK as one of the top business-led ideas to respond to the COVID-19 pandemic. We are excited to be working with Innovate UK to launch Online Study Groups over the next few months and to help make sure that lost learning due to school closures is recovered.

Tutorfair’s Online Study Groups is a project designed to help tutors cater to the changing needs of students during the pandemic. In a world where most pupils are socially distanced at home and do not have exams as a focus for their studies, Online Study Groups will allow them to learn in small groups with high-quality private tutors delivering lessons tailored to them. Research has shown that small group tutoring is as effective as one-to-one learning. Working with friends and other students will also enable interaction and social engagement during the lockdown whilst being more affordable and accessible throughout the country than one-to-one tuition.

“We’ve launched Online Study Groups to help students recover lost learning during lockdown. With the help of Innovate UK we hope small group lessons will enable more students to access affordable online tuition and learn with their friends while schools are closed,” says Tutorfair CEO Andrew Ground.

Work on the project will begin on June 1st and it will be fully built into the website by Autumn – however, we have already launched a pilot version of the project and there are groups to join now. Online Study Groups will be running alongside our existing one-to-one and online tutoring offerings, as well as free weekly Maths GCSE lessons delivered by ‘super tutor’ Mark Maclaine.

Online Study Groups will be offered for core subjects up to A-level – Maths, English and Sciences. Over the summer we hope to see more and more students joining groups including other subjects and fun activities-based sessions for students across primary and secondary levels. With Online Study Groups students can learn with friends and make sure they have covered the whole syllabus for this year or get ahead for next year.

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