A Global Economic & Tourism After Covid-19 Pandemic: A Review Paper
DOI:
https://doi.org/10.31580/jpvai.v3i4.1557Keywords:
Coronavirus, economic health, annual contraction, unemployment, restriction, tourism, pandemicAbstract
The current study is going to eradicate several discussions and facts regarding the effects of Covid-19 on the global economy as well as the tourism industry as well. On the basis of the records that have been found out, the global economy is at a terrible position and most of the nations have entered with the recessionary phase. In accordance with the implementation of secondary research methodology data and results regarding the impact of Covid-19 has been collected from different journal articles, research, online articles and necessary readings. Based on the data collected from different sources, the findings can be provided as follows an increase in the per capita GDP annual contraction to 92.9% and the stock markets have crashed and are facing a crucial time at the moment. Due do this major challenges faced as travelling has been restricted due to the widespread of this global pandemic since many countries as well as cities and other locations have closed their borders to avoid transportation facility. Throughout all countries all flights are cancelled and global tourism industry is totally stagnant, which increases the possibility of losing job for employees. It affects normal well-being of people who are directly and indirectly involved within the global tourism sector. Hence, in this pandemic situation, side-effects of the corona virus are tremendous and have massive implications in long run of tourism industry.
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