Evaluating the full impact of coronavirus on trade, business and travel might have to wait as it seems impossible now. However, if evaluated, its impact will likely reveal some of the worst instabilities ever. Doctors have been resilient and making efforts to push back coronavirus and recently they recorded a new drop level.
But the damages caused by this massive plague might already be done and the possibility of a cure or vaccine still uncertain.
There have already been some worldwide economic struggles. Unfortunately, trading grounds have been shaken by many uncertainties since the US/China trade war and then Brexit.
The outlook of travel, tourism and business in coronavirus season
Coronavirus is now weighing on the world economy. Trade routes connecting to China have gone from dealing with the trade war to suspending or delaying transactions to see how the crises improve. So far, 25 countries in the world have registered at least one case and the death toll rises to 2000 in China.
Moreso, the impact of the virus on aviation might cost airlines $29 billion in revenue if it prolongs. The entire tourism sector is also forced to either pause or apply some kind of cautionary method. Airbnb hosts, hotels and all are down with the awe of opening their space to the virus. Coronavirus places a natural travel ban on tourists around the world.
China’s economy which was forecast by the International Monetary Fund to grow at 6.0% rate. It is surprisingly unchanged despite. There is a possibility that it might change soon with reports of restaurants and stores losing customers. The latest forecast relating to the impact of coronavirus also shows that the economy of some of China’s trade partners could fall into a recession. Japan and Singapore are seeing a decline in demands of their products imported by China.
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