With the worldwide coronavirus pandemic, we are witnessing a lockdown in most cities with business operations being suspended – bringing in the work-from-home culture – and restricting all movements. This practice has led to a slowdown in all activities around the globe in many sectors, while dragging down the global economy.
Western firms are being affected the most, with stores and retail outlets being shut down. It has greatly reduced work opportunities. Additionally, companies selling consumer products have resulted in decreased revenue with factories being shut down. Such is the case of Apple’s reduced phone production inhibiting economic growth opportunities. Commodities like crude oil have plummeted by 26% to 18 year low, while the supply-chain distribution of technology companies has witnessed a drastic fall by 6%.
The travel and tour sector, which is dependent on labor mobility, is facing a critical business decline as airlines…
