Economics

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Table of Contents
Section 1: Executive Summary 3
Section 2: Introduction 4
Section 3: Main Finding 4
Section 4: Issue On The Affected Business 5
Section 5: Issue On The People Regarding The Virus 7
Section 6: Recommendations 9
Section 7: Conclusion 10
Section 8: References 11

Section 1: Executive Summary
With corona virus kicking in the economy of the whole world has gone down the drain. There has been a tremendous change to how the countries are operating and most of the income coming in is being used in the health sector. Some industries have shut down completely to avoid the spread of this very infectious disease. With more money being used than the amount coming in then there might be a world depression of the economy soon if the disease does not get a vaccine or a cure. Most countries are going through shortages of most equipments and that being worst felt in the third world countries.

Section 2: Introduction
We have seen corona virus ravage through almost every country in the world. Some countries like the United States of America and Italy have been hit the hardest. In addition to them being hit by the disease some industries have gone through a lot of loses through the laws that have been set in. the great tourism industry is among the most hit. With the closure of airports, cities and hotels then the industry has seen it all. With no travel and no hotels open then people cannot access the products that the tourism sector offers. Most of the people who work within this industry have been fired and others let go for a period of time without their salaries.
Section 3: Main Finding
Most countries have been locked down. Some may have a total lock down while others have a partial lock down. With that in mind most of the businesses have been closed and the people are home most of them not getting any salaries. Some people can work online for example teachers but when it’s the people in the tourism industry they cannot. As much as some situations are being compromised others cannot be compromised. Countries that heavily rely on tourism such as Kenya are having a very hard time and having a small economy does not help. Basically all countries are in a crisis which doesn’t have any solution at the moment. It has become a scaring moment for everyone since no one knows what is going to occur in the next minute, hour or day. With most of the places closed everything is disorganized. What can be done is that people can sit down and watch the situation. Some are having trouble accessing basic needs with the way the economy is in the whole world. The government is trying to help as much as it can but the question is until when can they help?
Section 4: Issue On The Affected Business
The businesses in the tourism industry are very many. There are hotels, transport at large, game parks and reserves. These are just but a few of them. All these put together are what make up the tourism business. With rate at which corona virus spread, people being together in the same place is not recommended. The businesses in the tourism industry involve one on one interactions with people. With this in mind then it is very hard to allow these business to continue operating. It is much safer for the business to be shut down. So how has every business in the tourism industry been affected?
Many hotels have reduced their bookings and occupancy. Most people are afraid to mingle with others as they might carry the infectious virus. With no cure yet or even a mere vaccine, people prefer to keep to their homes and making a homemade meal. With this crisis most people have learnt the importance of cooking and most people now know a thing or two about it. With no deliveries of food then this has become possible. The Global hospitality research company has taken a research that hotel occupancy has dropped drastically from 53% to 24.4% (Baskas, 2020). With this then the revenue has dropped too. The hospitality sector was not just a drop in the bucket for the economy but was significant this making the hit very hard. What made it hard was that later these hotels were closed making the amount earned to be 0. This is where the economy in regards to hospitality earn a total of nothing in regards to the taxes. Zero travelling has added salt to the wound that the hospitality sector has at the moment. These are the major issues that the hospitality sector is really going through at this trying time. This is something all of the countries are facing since all countries have a hospitality sector to them.
The other business is the travelling business, which involves: air, water and road transport. The partial lock downs that have not completely locked down in-country travelling but the air services have been shut down. As for those with total lockdown then any kind of movement has been closed for everyone. For anyone to move from one place to another then they have to have papers and high clearance to do so. It will take a while before travel recovers. With the issue of social distancing travel is become less and less popular everyday. Two colleagues at Chinese app-download have made a big research on how long it will take for travel to resume and the answer was very shocking since it was a very long time to come (Jarobe, 2020) They came up with a graph that showed a very big downward curve meaning that the loses with still be coming in for a while. This survey was based on the China travel. The survey however will be different for every country with reference to the infected people in the country. This all depends after with the spread in every particular country. This research was important to know where travel will stand after and during this crisis.
The above discussed mainly on air travel but all other travels are important too. A great example is water transport. Some people like to go on cruises for a certain amount of time. They are filled by so many people and with the pandemic we are really trying to people to keep some distance. With summer coming up most people had booked to have cruises around that time and with corona that is impossible. No cruises and no fun. This means that there will be a lot of refunds and loses for the cruise companies. People will be stuck on land during summer with the wave of heat on their bodies. They cannot escape to cooler places for example in Africa which is cool at the moment. So a lot of disappointments in the things gone wrong regarding the plans that had been made long ago. This surely reduces the economy a little further down.
The other business that is ruined and is the most important in tourism site seeing. This is done to places such as museums, monuments, parks and great lands. This goes hand in hand with travelling. For one to site see then he or she should be able to travel. With most of the means of travel shut down then that is impossible. These sites to see have been closed and most of them cannot earn any money with this pandemic. With no one coming to see them that there no entry fees being paid and if that is not being done then no one is paying any taxes to the government. This again brings the big hit to the government. Imagine the number of cancellations made at a famous place such as Disney land. The people who are supposed to go there and enjoy themselves are locked at home. So when you think of all the revenue earned by the government of the United States of America from Disney land just count it as 0. Here we are just counting another big lose for Illinois mostly. It is important that we note that the important sites are great money makers and without them will economically doomed.
Section 5: Issue On The People Regarding The Virus
The hotels or hospitality are a big part of the tourism industry. Most of the hotels have been closed leaving most people jobless. They have gone to great lengths to prevent further spread of the virus and one was locking all the hotels some with the people outside. According to BBC news some people have been locked in. an example is the Tenerife hotel In Spain where the guests have been locked in because of the guests tested positive. This was done to avoid more spread from the guests to healthy people if they came into contact with the corona virus positive guest. This was a precaution just like any other by the government to prevent any more cases. The guests gave out interviews showing and explaining their experience to the BBC crew anchors (BBC, 2020). This of course affects the people as they cannot go home to see their families until they are tested and proven to be negative. It seems like a hard way to live especially if you are far away from the people that love you.
The other thing is that people have lost so many of their loved ones. With the pandemic so many people have died especially those in hard hit countries. A man in Italy threw himself of a very tall building he owned after all his family died. He had lost hope and he felt that there was no more need for him to keep on live. People from all ages are getting sick and even dying. In Kenya, a six year old got infected with corona virus and the child succumbed to it eventually. People with terminal illnesses are advised to keep social distance as they are prone to this virus if exposed. With people dying and the population reducing that means that the man power is reducing too. After the pandemic the number of people who can work will be few in number. The situation seems to get dire with time and therefore we might still remain locked in. people are also getting removed from their families if they are discovered to be in contact with a positive person. They get quarantined and they are sent away from their loved ones. With no cure one is left to fate. You either survive or die since there is no sure bet answer to this crisis.
Even with the bad thing happening there are good things that are coming in with this pandemic. One is that people are going more virtual. People are relying on working through the screens. Before people need to work face to face but this pandemic has shown us that is not all true. People with white collar jobs are most who are enjoying this. Through facetime or skype then work can easily be done. When it comes to education most European countries and America have gone to online classes.
The other good thing to appreciate is that people have returned to the traditional way and they are learning how to cook. This reminds that people do not have to order in meals. As people are locked up and hotels are closed they have a lot of time for them to cook. This is so healthy as people are used to the same food that is Chinese food or pizza. Despite the complains of staying home people can get a decent home cooked meal which is healthy and satisfying as usual. This is a positive change to our world and daily living.
Section 6: Recommendations
We could always do something about the situation we are in no matter what it is. There are thing we can do help keep the tourism sector. For example, In Kenya hotels have been opened up for business. They have some conditions that they have to keep so that they are not shut down again. The employees of all opened hotels will be tested for corona virus and with that to know whether they will be back to work this will serve the local tourist. Despite the issues that are there they find a way to make the revenue of the country to keep coming in. the other condition is that they will only serve take away food that means you buy and go so reduced contact. This was a smart move as they can reduce a lot of interactions with the waiters and waitresses. The other condition renew their licenses meaning paying of taxes to the government thus adding to the economy. Most people will be back to work with this compromise and other precautions will be added with time. People will be earning a living and that will reduce poverty levels. Other countries could pick a thing or two from what Kenya has done. The ministry of health is doing all it can to ensure the safety of all hotel workers as the get back to their normal routines. It was a bold move for the economy to avoid a depression in the country as it is a third world country in Africa. We should also keep social distance as advised.
Section 7: Conclusion
As we continue to battle corona everyday, we should keep the faith that scientists will find a cure. The world’s economy might be a mess but we need to work on ensuring that it does not digress completely. The tourism sector may be down but it will come back soon after the pandemic is over. We need to keep on work, being brave and fighting as hard to be alive and till the very end. The economies of most countries are down now but it is something that can be recovered.

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