COVID-19 is impacting everyone, everywhere, and its sphere of influence changes almost daily. Of all the places facing change and uncertainty, the airline industry is at the forefront. News of airlines facing bankruptcy and impending doom cloud the headlines globally. As Global Mobility specialists, we examine 110,000 fares on a quarterly basis so that we can deliver our clients the most up-to-date information to support their assignees. Now, more than ever, we know that you need quick answers and accurate estimates to support your international and domestic assignees that need to return home during this sweeping pandemic.
In response to the COVID-19 pandemic, US Treasury Secretary Steven Mnuchin announced on March 20th that the U.S. filing deadline has been postponed from April 15th to July 15th. However, this extension only applies to filing of Federal individual income tax returns; each state is responsible for setting and announcing their own deadlines.
Last quarter, in the early stages of the global COVID-19 outbreak, I was surveying Southeast Asia. At the time of my transit through Kuala Lumpur, AirAsia had recently suspended flights from mainland China, Macau, and Hong Kong. Though normally a carrier that promotes customer self-service, the airline was diverting all travellers from these locations to the check-in counters to undergo screening questions before being allowed to proceed; in fact, they were prohibited from using the automated-check-in machines as you can see in the photo below.
The outbreak of the COVID-19 pandemic has been unprecedented, and its impact to world markets has been reflected in foreign exchange. The impact of COVID-19 touches every part of the economy, and can largely be divided into three categories:
The COVID-19 pandemic is presenting us all with a period of great uncertainty. One thing we have learned from past crises is that we will likely experience economic volatility, including wide exchange rate swings and abnormal patterns of inflation. While these are early days, we have already measured higher rates of inflation in China, as well as significant fluctuations in major currencies. In addition, living conditions have worsened for many across the globe. It is likely economic volatility and restricted lifestyles will be with us for some time.
My primary responsibility is to serve as the strategic point of contact for the AIRINC clients in my region. I work with them to look for ways to help them meet their goals and face their mobility program’s challenges. The COVID-19 outbreak has been a prime example of the latter in 2020. I have been working with clients to ensure they are informed about the conditions facing their assignees and the impacts to the data that they receive from AIRINC – mainly hardship and danger pay.
In response to the COVID-19 pandemic, US Treasury Secretary Steven Mnuchin announced on Friday that the U.S. filing deadline has been postponed from April 15th to July 15th. Taxpayers and businesses will have an extra three months to file returns and make payments without interest or penalties.
According to AIRINC’s 2020 Mobility Outlook Survey, Global Mobility’s top priorities for 2020 include enhancing the employee experience (73%), redesigning the mobility program (56%), and simplifying the program (52%). So how can Mobility accomplish these goals?
AIRINC is pleased to announce that Jeff Hawk is the new Americas Region Leader. Jeff moves into the vacant Americas role that Morgan Crosby transitioned from to take on the newly created Global Growth Leader. With 27 years of mobility experience, Jeff brings significant and varied experience to the role; he has led the data operations group, served as a senior client engagement director, and managed the EMEA region as an expatriate himself. These varied experiences from personal to client to detailed data methodologies will serve him well in his new role.
The Stockholm housing rental market has been mostly stable over the last several months, despite a steady increase in demand. Rental units are challenging to find in this near-zero vacancy market and houses are especially limited. For new assignees, there has been an increase in demand for employer-backed leases and this trend is expected to grow.