The talk this weekend in Toronto is about how everyone is jamming into downtown parks -- like Trinity Bellwoods -- to enjoy the beautiful weather and drink outside with friends.
Some, including our mayor, are "extremely disappointed" by this selfish behavior. Others are chalking it up to those hipsters. And others, such as Richard Florida, are being highly sympathetic: these are young people who live in small urban spaces and they are clamoring for some green space. Let them be human.
This, of course, is a debate that is playing out not just here in Toronto, but all around the world as we flirt our way into a reopening. Videos of the Lake of the Ozarks were making the rounds on Twitter when I last checked.
I'm not here to pass judgement or predict a second wave (though a few waves are probably inevitable). I'll leave that to the epidemiologists. The silver lining to all of this, I think, is that it is a clear demonstration of just how persistent urban life remains in the midst of this pandemic. The desire to be around other humans is a powerful force of attraction.
Here is an excerpt from a recent FT Opinion by Ben Rogers called, Cities are not dead — they will get younger:
Cities have always worked particularly well for young people. They flock to them to build up vital social and professional networks, meet their mates and learn how the world works. Around the world there is massive unmet demand for city homes and workspace. The idea that the centres of London, Paris and New York will turn into tumbleweed towns is fanciful. The age composition of these cities might change, but people and business will still be jostling for space near the centre.
In Toronto this weekend, that jostling for space played out on the grass of Trinity Bellwoods Park.
Photo by Adrien Olichon on Unsplash
Many of us are now working out from home. The Financial Times just reported that Peloton experienced its highest level of participation last week. Some 23,000 people tuned in for one of its streamed classes. Naturally, anything that was possible to go online has gone online.
I've never really been a class guy, but I've been a regular at a gym since high school and it's one of the things I'm most looking forward to getting back to as things subside. For many, the gym is a kind of third place. Though I would imagine it's not the best place to hangout during a pandemic.
According to FT, the fitness industry was among the first to suffer in the UK (~£5.1bn industry), showing signs of decline even before any government lockdown. The UK also had one of the most profitable fitness industries in Europe. Here's an interesting chart comparing gym penetration to revenue per club.
It's interesting to note some of the outliers. Latin America has low penetration and low average revenue per club. And parts of Asia -- notably Hong Kong and China -- have relatively high average revenue per club, but still have fairly low penetration percentages. Do only rich people go to the gym in Hong Kong?
This chart maybe makes it seem like nobody in Latin America is working out. But if you, instead, look at the number of fitness clubs in each country, the data looks vastly different. In this case, there are two very clear outliers: the United States and Brazil. (The below chart is from Statista and is based on 2017 data.)
But Brazil also happens to be the most populous country in Latin America with around 209 million people. So let's consider this chart on a per capita basis against, oh I don't know, the US (~328 million), the UK (~67 million), and Canada (~38 million). Once again, the ranking switches. Brazil and Canada now come out on top with around 16 fitness clubs per 100,000 people. (I guess we're just as body conscious as the Brazilians.) This is in comparison to 12 per for the US and 10 per for the UK.
So what does this all mean for our post-COVID-19 world? Who knows. But I'll sure as hell be at the gym.
Just over a month ago, as North America was beginning its lockdown, the Europeans were the ones showing us how to stay sane in quarantine through balcony orchestras and viral internet videos. Now we're looking to them for how best to reopen the economy and minimize the number of fits and starts.
This morning Spain recorded its lowest daily death rate from the coronavirus. It is beginning to prepare for a phased relaxation of its lockdown rules. Things will not return to normal overnight. [Financial Times]
Spain allowed construction activity and manufacturing to resume this past week. As a reminder, Spain's strict lockdown started on March 14. [New York Times]
Bookstores are open in Venice, but that's about it. Customers have to enter one at a time, or schedule an appointment. Hotels, restaurants, and cafes remain shuttered. It is believed that at least 1/6th of all Italian restaurants and bars will not survive. Reopening is not happening uniformly across Italy's 20 regions. [Wall Street Journal]
Last week, Denmark became the first country in the Western world to reopen elementary schools. The desks are far apart and teaching outside is being maximized, but some/many are concerned that this is too soon. Are we prioritizing the economy (i.e. free up the parents) over the health of our children? [New York Times]
The Czech Republic currently has one of the lowest number of cases on the continent. But hardware stores and bike shops are some of the only nonessential businesses that are allowed to be open. The Easter weekend saw an over 60% increase in year-over-year sales. Biking is something to do right now. [Wall Street Journal]
On Monday, the lockdown will be further relaxed by the Czech government. Weddings of up to 10 people will start to be allowed. Gyms are expected to open on May 11, but their change rooms will remain closed. (I'm surprised by this one.) Malls, hotels, and indoor restaurants aren't expected to reopen until June 8 at the earliest. Should the number of new daily cases exceed 400 going forward, the government has said it will reimpose a lockdown. [Wall Street Journal]
The UK is not yet considering a relaxation of its lockdown. As of Sunday, the situation remains "deeply worrying." The UK currently has the 5th highest national death toll. [Globe and Mail]
On April 13, Emmanuel Macron announced that France would begin a phased reopening of its economy -- schools and some businesses -- starting on May 11. This is a unique approach. He gave a firm date, well into the future. What if this doesn't make sense when the time comes? Clearly the government felt that the psychological benefits of a firm date outweighed the potential risks. Minimize uncertainty during an uncertain time. [Le Monde]
Lots of discussion around the porosity of borders. Logically, there's a view that unless there's a common strategy, it's better to keep borders closed. But what are the economic implications of doing that? [New York Times]
Photo by Grant Lemons on Unsplash