Amsterdam economy hit harder than the rest of the Netherlands

The economy of Amsterdam and the surrounding region was hit a lot harder by the coronavirus crisis last year than the rest of the Netherlands. The Amsterdam Metropolitan Area (MRA) reported that the region's economy shrank by 7.1 percent, almost twice as much as the Dutch economy as a whole (3.8 percent).

The MRA comprises the seven sub-regions Zaanstrek-Waterland, IJmond, Zuid-Kennemerland, Amstelland-Meerlanden, Gooi en Vechtstreek, Almere-Lelystad and Amsterdam. The regions were hit extra hard by the coronavirus measures because tourism and recreation, culture, catering, the travel industry and aviation make up a large part of the economy in the area, according to the report Economic Outlook that was published on Friday.

The GDP of the Amsterdam region is expected to return to pre-coronavirus levels in the second half of next year. According to the MRA, the region's rebound of 4.1 percent is "slightly stronger" than the expected growth of the Dutch economy. However, the recovery will remain vulnerable due to the "uncertain development of the pandemic."

According to Alderman of Economic Affairs Victor Everhardt, "the consequences of the coronavirus crisis which we are still in the middle of will be visible for longer."

"We must now invest together in the region and with the government in further socio-economic recovery. In the coming years, the energy transition, better functioning of the labor market and housing market, accessibility and equality of opportunity for all residents in the region will be central."