It’s all start in December when the virus started spreading, first starting in the city of china Wuhan and slowly all over the world. In the present-day, there are more than 4,721,000 cases around the world. Coronavirus or COVID-19 affects businesses all around the especially the Tourism industry, people are afraid to get contacted with viruses in many countries around the world or say most of the countries around the world lock their country to stop this virus. The pandemic erases billions of dollars from global stock markets, small business owners, and travel agencies. People who are isolated in their homes only allow themselves to go out for essential jobs. COVID-19 is spreading so fast all around the world that it shows that even
its stop in the near time still will not travel due to their financial status, it hits everyone rich, poor, businessman, etc.
Man buying grocerry at store
Due to the virus tourist arrival is almost stop in many countries. As per the World Travel and Tourism organization, the COVID-19 could cut 50 million jobs all around the world in the tourism sector. Airlines are only operating fewer for essential use. The Malaysian government was expected to visit Malaysia Year 2020 to attract 30 million. Due to the COVID-19 Malaysian government stop campaign (VMY2020). All the main events around the world are being called off or postponed for further dates. Travel restrictions and the cancellation of many planned visits, flights, business and leisure activity all are canceling.
The accelerated spread of COVID-19 has brought the world economy to a standstill. Projections of the potential impacts of the COVID-19 shock on the global economy vary considerably. Yet there is near unanimous consensus that the world economy is facing the most serious challenge of the post-war era due to the sudden halt in economic activity in both advanced and developing countries.
Containment measures are leading to further downward predictions of global GDP growth
In mid-April, the International Monetary Fund (IMF) updated its global growth projections and stressed that the global economy is expected to experience its worst recession since the Great Depression. The WTO’s latest forecasts are even worse, projecting a negative growth rate of nearly 9 per cent for 2020 in the worst-case scenario (Figure 2). Other projections conducted at the beginning of the month were more optimistic, such as that of the United Nations Department of Economic and Social Affairs (UNDESA): in the worst-case scenario, global GDP will contract by up to 1 per cent.
Coronavirus first started in China, many countries are blaming china for spreading the virus into the community or worldwide, Chinese people getting targeted and receiving racial comment.