The coronavirus, which emerged in December 2023, has had a massive impact on the global economy. Many countries have restricted their foreign trade and travel, resulting in a decline in international trade. Companies from various sectors are grappling with a drop in demand and financial difficulties.
The coronavirus pandemic has forced many businesses to close or reduce their operations. Particularly, industries related to tourism, hospitality, and gastronomy are struggling to maintain profitability. Many employees have lost their jobs, and unemployment has dramatically increased.
The European Parliament has taken action to mitigate the economic crisis caused by the coronavirus. Financial support plans have been implemented for businesses that had to shut down or limit their operations. Creating a united front and taking joint actions at the international level aim to protect jobs and revive the global economy.
FAQ:
Q: How does the coronavirus impact the global economy?
A: The coronavirus has a negative impact on the global economy through restrictions on foreign trade and travel, as well as a decrease in demand in various sectors.
Q: Which industries are most affected by the pandemic crisis?
A: Industries related to tourism, hospitality, and gastronomy are the most affected by the crisis as many individuals are avoiding traveling and dining out.
Definitions:
1. Coronavirus – a type of virus that can cause various diseases, ranging from mild respiratory infections to serious ones like COVID-19.
2. Economic activity – all activities and operations carried out for the production, exchange, distribution, and consumption of goods and services.
Source: OPP.Today
The source of the article is from the blog tvbzorg.com