The outbreak of the corona virus started from Wuhan china in the last quarter of 2019. Business in china was started being effected by JAN – FEB 2020. Many countries were force to break down trade ties with China due to this reason. However the pandemic spread globally to all parts of the world.
Economies trough out the world have been severely affected. And the industries like the Air line, logistics, tourism, global trade and supply chain were severely affected. As the global economy experienced slow down with shrinking GDP growth. Tough measures needed to be undertaken. The economy of China, USA, Germany, France, Italy, Spain and UK experienced major slow down. Oil prices reached on all time low since last 20 years.
Because of the lockdown in many countries industries like automotive, retail, Smartphone manufacturers, restaurants and food industries, etc. However one industry lost turned into another’s gain.
The online retail industry, ecommerce, contacts less delivery services are experienced phenomenal growth. In addition telecom company and internet services providers experienced high volume growth unable to meet the demands of the people.
In addition platform and technologies which promoted work from home also experienced growth in their incomes. In order to meet the challenges of tomorrow we must keep informed, be prepared and hope for a brighter future ahead.
