2020 saw biggest crisis ever says Ambrosetti Forum

Last year saw the biggest global health and economic crisis ever seen, the annual Ambrosetti Forum heard on its opening day Friday.
“2020 marked the deepest global crisis ever seen by our generation,” said Valerio De Molli, managing director and managing partner of The European House Ambrosetti, kicking off the annual brainstorming session.
“The collapse in global GDP was 32 times worse than the worst previous crisis, while Italy’s 8.9% GDP contraction was the fourth worst in the 150 years of Italian history.” As well as its economic impact, “the social consequences of the pandemic were enormous and asymmetrical, said De Molli.
Women and young people were the categories that suffered the most, he said.
He said some 47 million women around the world risk falling below the poverty line.
The Ambrosetti Forum organized by The European House – Ambrosetti, a consulting firm – is an annual international economic conference held at Villa d’Este, in the Italian town of Cernobbio on the shores of Lake Como.
Since its inception in 1975, the Forum has brought together heads of state, ministers, Nobel laureates and businesspeople to discuss current challenges to the world’s economies and societies.