Far-Reaching Socio-Economic Impact Worldwide Due to Pandemic Corona Virus (COVID-19)

By:   Muhammad Asif

Information given in this article is changing with the passage of time as the pandemic is progresses. Updates may not reflect the fresh current information due to daily changing of the situation.

The COVID-19 (Corona Virus) has spread in 205+ countries of the world since it first arose in Wuhan City of China.  Round about following numbers of Cases reported in kind of infection, Death, Recovered and Closed:-

Ø  Total No of Corona virus Cases           -         +   18,00,000

Ø  Total Deaths                                         -           +   108,780

Ø  Total Recovered                                  -            +   4,28712

Ø  Total Active Cases                              -            +    12,62,508

The source of COVID-19 is Wuhan City of China where both live and dead animals including dogs, Cats, fish and birds are sold. These markets pose a high risk of viruses transferring from animals to humans.

This Corona virus (COVID-19) has far-Reaching Socio-Economic consequences due to quarantine. As it has spread all around the world, concerns have moved to decrease all types of businesses. Due to this pandemic all major sectors of businesses went into quarantine and stop their working and it has a great impact crashing markets of the world which would have a worsen impact on both Political and Socio-Economic categories.  However some of the following major sectors bitterly effected at this time but not sure how it would be for how long:-

Ø  Sovereignty Impact

Ø  Education Impact

Ø  Religious Impact

Ø  Income Impact

Ø  Industry Impact

Ø  Financial Impact

Ø  Import/Export Impact

Ø  Markets Impact

Ø  Tourism Impact

Ø  Science and Technology

Ø  Food and Beverage Impact

Ø  Entertainment Impact

Ø  Institutions Impact

Ø  Logistic Impact

Ø  Public Transport Impact

Ø  Social Impact

Ø  Unemployment Impact

In hustle and bustle most of the states are failing to manage the situation and the public will lose their trust on them. Everyone is in effort about the future survival. Due to this worst pandemic the financial crises in the states will increases and the sovereignty of the states automatically eroded.

Corona virus badly affected the education system of the affected countries and all the Universities and colleges are closed for unknown time period.

This pandemic mainly affected low income individuals as they are working mostly in gathering, public places in low skill jobs and they have limited access to health facilities.

As states announced to close Worship Places and facilities are completely due to this pandemic. But due to religious faith and beliefs people from different religion gathered for prayer and worship during this pandemic which could be a source of spreading the virus.

Due to this Pandemic all the businesses are not functional, markets crashed and all mega and small projects stop working, it will have a worst Economic and financial impact all over the world which will result a huge crises in the world.

All over the world Film Industry, Cinemas has been closed and festivals have been postponed, Sports event cancelled, newspapers limited, TV Shows Cancelled, Video games production stopped, Retailers’ shelves empty, Reduction in Super stores timing, Closure of Restaurants, Science and Technology Project stopped, Tourism stopped due to quarantine restrictions, Flights and Public Transport stopped due to the fear of illness abroad, Close of Institutions and many other. It caused a drop of billions of dollars dramatically which is a huge loss impact. Many of the individuals lost their jobs and became unemployed due to Lock downs.  

Psycho social Issues and mental health issues are increasing at a huge level and it could be a human stability loss both by metal and physical.

 It is very early to assess and conclude the exact percentage of Impact of Pandemic Corona virus (COVID-19) on the world, however if it remain for a long time period then the result will be very different and it would set a historical Impact on the world both in kind of Economy and Human Lives Losses. As we see and observe the daily Progress of the Pandemic possibility has been raised that it could cause a “Mutiny working from home” as many companies of the world have made the telecommuting arrangements in order to prevent the Virus spreading. It may have a negative impact on supply chain and Travel Businesses.

Continue…………….

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