Coronavirus and its impact on the global Economy

Coronavirus-and-its-impact-on-the-global-Economy


This the worse time we are all spending since the COVID-19 pandemic started everything went lockdown. Many people died even many people lost their job. As for homeless people, it even became much worse.


And those who are living a middle-class life are spending a tough time during this crisis.


After the coronavirus outbreak, everything went lockdown. It's impacted the global economy. STOCK MARKETS
The Airline industries, Food industries, Import and Export of goods.
Travel industries, hotel industries, film industries. The ship stopped shipping, Highway was silent, 
Everything seems was not right this year. 
And as for the economy, this year is most worse. 


STOCK MARKETS


During the lockdown stock markets suffered the most. It's a huge loss to the STOCK markets. People lost their job and having a financial crisis. 

In stock markets, demand products are decreasing significantly. That's why its influence on the price of the product. Demand for oils is hugely fell the same goes for the price of oils. Its losses 70% of the price since COVID-19 started. 

Demands for motor gasoline in the USA are dramatically fell. It is because of the outbreaks and lack of travel oils became less demanding as well as price.



Airline Industries 


Since the coronavirus outbreak started around the world every country went lockdown. The airline industry stopped. It's a huge loss to the global economy. 

As you probably know Emirates Airlines cutting 9,000 jobs of their employees. Just because of the coronavirus pandemic. Since air traveling demands fall hugely they are warning employees that they will further cut off jobs if needed. 

The government of the UK and the USA order the airlines to refund when flights canceled. However in many cases airlines offering vouchers for the next flights.


Food industry 


Well everyone's aware of how coronavirus impacts global food supply. People went panic and started collecting food that leads the food industry to food shortage. 

But everything seems fine now. However, there's some food that still short on supply because airlines and shipping are stopped.

As for bars, restaurants, clubs government has strictly forbidden to open these until things go normal.
In some countries, restaurants are opening with extreme precautions. 

Hotel industry


Since the coronavirus outbreak started hotel industry is having losses. Most of the hotel rooms are empty.
Many hotel industries completely break down.

Until the crisis completely gone and everything goes normal there's no hope to recover for hotel industries.

It surely was unexpected for hotel industries to got such huge losses due to the pandemic. Since most of the airlines were shut down as well as countries people stopped traveling which lead to these hotel rooms empty. Many hotel employees lost their job. 

Film industry


Due to coronavirus, many films canceled their release date. Many films delayed and also film making are stopped in the middle of the process.

Not just that. According to a new prediction, the world box office could lose 5 billion dollars because of the COVID-19 pandemic. The film industry has been impacted by coronavirus significantly.

Many production houses from different countries changed their schedule, location, or completely shut down. Sony pictures closed their offices in many countries due to the employees' coronavirus. 

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