Impact of Coronavirus – Impact of Coronavirus on the economy, businesses and other sectors can not only be felt today but as per industry experts, the impacts would be long lasting.
Coronavirus (CoV) is a large group of viruses that causes illness ranging from the common cold and cough to severe diseases like Middle East Respiratory Syndrome (MERS-CoV) and Severe Acute Respiratory Syndrome (SARS-CoV). The coronavirus disease is continuing to grow for over 3 months now. It was first detected in December 2019 in China.
Coronavirus cases (worldwide) as on 16.3.20: 169,719 / Deaths: 6,518 / Recovered: 77,776
Coronavirus cases in India as on 16.3.20: 114 / Deaths: 2 / Recovered: 13
How coronavirus has affected sports sector – Impact of coronavirus on sports
Coronavirus has affected the sports sector drastically. Several major sporting events were cancelled or postponed due to which the sponsors/broadcasters may have to bear huge losses.
- Summer Olympics
2020 Summer Olympics which was scheduled to take place in Tokyo starting end of July has been postponed. Qualifying events are being canceled or postponed almost daily.
The coronavirus pandemic impacted on several international cricket tournaments. On March 13, BCCI postponed Indian Premier League 2020 from March 29 to April 15. A women’s quadrangular series scheduled to take place in Thailand in April 2020 has been cancelled. India vs South Africa ODI Series has also been called off due to the Coronavirus.
The FIBA Under-16 Asian Championship and FIBA Under-16 Women’s Asian Championship have been cancelled.
All scheduled Badminton World Federation tournaments have been suspended until April 12 due to coronavirus concerns. The affected tournaments are Swiss Open, India Open, Orleans Masters, Malaysia Open, and Singapore Open.
2019–20 UEFA Champions League, 2019–20 UEFA Europa League has been suspended. 2019–20 Premier League including lower divisions has been suspended.
The Masters Tournament was postponed on March 13, 2020 due to the coronavirus pandemic.
2020 Women’s Ice Hockey World Championships has been cancelled.
Do read: Coronavirus Live Updates in India
Impact of coronavirus on Travel and Tourism
With the Coronavirus spreading its harmful symptoms on people across China, Europe, and India, Sikkim has put a ban on the issuance of the Inner Line permit to foreigners, for Nathu La pass which borders China.
Recently, a study revealed the U.S. travel and tourism industry could lose approx. $24 billion in foreign spending this year because of coronavirus.
The international travel industry faces a huge shutdown over coronavirus fears after airlines announced new flight reductions and more countries introduced travel bans and isolation requirements.
Hong Kong Tourism Board’s statistics showed a drop of more than 96 percent year-on-year for the period, after the spread of Covid-19.
This is one of the worst crises that hit Indian tourism in all segments – inbound, outbound and domestic. The Indian government has mandated that NRIs arriving in the country should carry a coronavirus-negative certificate from designated hospitals in the countries they are travelling from.
Fearing coronavirus, there have been a large number of cancellations of flights, tour packages and hotels resulting in losses worth crores to the travel and hospitality industry.
Must read: The Coronavirus; Symptoms and Preventions
Impact of coronavirus on the world economy
The virus outbreak has become one of the biggest threats to the global economy and financial markets.
- The BSE SENSEX fell 2919 and NIFTY 50 fell 950 points in a single day on 12 March 2020.
- Major companies such as Amazon (AMZN) are on record preventing non-essential travel for employees which in result would impact the airlines and hospitality industry.
- According to a survey of 400 businesses by the Global Business Travel Association have canceled or postponed some meetings or travel.
- The group estimates that up to 37% of business travel is at risk of being lost.
Impact of coronavirus on Indian economy
- In India, coronavirus has majorly affected pharmaceuticals, fertilizers, automobiles, textiles, travel and electronic industry.
- CII Tourism Committee said inbound foreign tourism of over USD 28 billion in value terms accounts for an average of 60-65 percent between October and March. In the last few days, overseas tourists have cancelled their bookings to Darjeeling and Sikkim.
Symptoms of coronavirus
Signs and symptoms of coronavirus (COVID-19) are:
- High Fever
- Bluish lips or face
- Difficulty in breathing
- Pain or pressure in the chest
- Avoid touching your eyes, nose, and mouth.
- Avoid close contact with anyone who is coughing or sick.
- Stay away from public places. It’s better to work from home.
- Avoid going to crowded places.
- Cover your mouth and nose with your elbow or tissue while sneezing.
- Wash your hands often with soap and water, or use an alcohol-based hand sanitizer.
- CDC doesn’t recommend healthy people to wear a facemask. Only wear a mask if a health care provider tells you to do so.
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