Coronavirus pandemic and its impacts on the world’s economy

Published: Jun 25, 2020

Abstract:

Purpose: This study is about the coronavirus pandemic and its long-lasting impacts on the world economy. The study's main purpose is to highlight the adverse effects of the Coronavirus on the world's economy and how to mitigate it.

Research Methodology: An analytical and descriptive research methodology was conducted to get findings and recommendations. Original material is obtained from primary sources. Information is also taken from books on websites and previous articles on the subject.

Results: Precautions and impacts are presented, followed by the recommendations to diminish the effects of Coronavirus.

Limitations: The impacts of Coronavirus are not limited to developing countries, but this study has given less focus to developed countries.

Contribution: This study is helpful to understand the impacts and redefine the course of actions accordingly.

Keywords: Covid-19, Symptoms, Precautions, Economic effect

Keywords:
1. Covid-19
2. Symptoms
3. Precautions
4. Economic effect
Authors:
1 . Muhammad Suleman Nasir
2 . Muhammad Qayyum Ahsan
How to Cite
Nasir, M. S., & Ahsan, M. Q. (2020). Coronavirus pandemic and its impacts on the world’s economy. Journal of Sustainable Tourism and Entrepreneurship, 4(1), 21–31. https://doi.org/10.35912/joste.v1i4.501

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References

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  1. BBC Urdu. (2021). Corona virus: Economic damage threatens to add half a billion people to global poverty. https://www.bbc.com/urdu/world-52226233 (accessed, 15 February, 2021)
  2. Chaolin Huang, MD., Yeming Wang, MD., Xingwang Li, MD., Lili Ren., Jianping Zhao, MD., & Yi Hu, MD. (2020), Clinical features of patients infected with 2019 Novel Coronavirus in Wuhan, China. The Lancet, 395(10227), 497–506.
  3. Cidrap News. (2020). New-coronavirus-infects-health-workers-spreads-korea, ,http://www.cidrap.umn.edu/news perspective/2020/01/new-coronavirus-infects-health-workers-spreads-korea,(accessed,10 Jan, 2020).
  4. Corona ki Taqat Mazeed Barrah Gai. (2020), https://www.dawnnews.tv/news/1119175/. (accessed, 26, Jan, 2020.)
  5. Corona virus: Where did the corona virus start. (2020). https://www.bbc.com/urdu/science-51632070 (accessed, 21 January, 2020)
  6. de Groot, R. J., Baker, S. C., Baric, R. S., Brown, C. S., Drosten, C., Enjuanes, L., Fouchier, R. A., Galiano, M., Gorbalenya, A. E., Memish, Z. A., Perlman, S., Poon, L. L., Snijder, E. J., Stephens, G. M., Woo, P. C., Zaki, A. M., Zambon, M., & Ziebuhr, J. (2013). Middle East respiratory syndrome coronavirus (MERS-CoV): announcement of the Coronavirus Study Group. Journal of virology, 87(14), 7790–7792.
  7. GooglyNews. (2020). Where did the Corona Virus start? The final answer could not be found. https://googlynews.tv/45525,(accessed, 20 January, 2020)
  8. IMF (29 June, 2020). World economies struggling with rising unemployment. International Monetary Fund, Washington DC.
  9. Ji, W., Wang, W., Zhao, X., Zai, J., & Li, X. (2020). Cross?species transmission of the newly identified coronavirus 2019?nCoV. Journal of medical virology, 92(4), 433-440.
  10. Jonathan M Read., Jessica RE Bridgen., Derek AT Cummings., Antonia Ho., Chris P Jewel. (2020). Novel Coronavirus 2019-Ncov: early estimation of epidemiological parameters and epidemic predictions. doi: https://doi.org/10.1101/2020.01.23.20018549
  11. Jones, L., Palumbo, D., & Brown, D. (2021). Coronavirus: How the pandemic has changed the world economy. BBC News. https://www.bbc.com/news/business-51706225.
  12. Ksiazek TG, Erdman D, Goldsmith CS, Zaki SR, Peret T, Emery S, Tong S, Urbani C, Comer JA, Lim W, Rollin PE, Dowell SF, Ling AE, Humphrey CD, Shieh WJ, Guarner J, Paddock CD, Rota P, Fields B, DeRisi J, Yang JY, Cox N, Hughes JM, LeDuc JW, Bellini WJ, Anderson LJ; SARS Working Group. (2003) A novel coronavirus associated with severe acute respiratory syndrome. The New England Journal of Medicine, 348(20), 1953–1966.
  13. McIntosh, K., Kapikian, A. Z., Hardison, K. A., Hartley, J. W., & Chanock, R. M. (1969). Antigenic relationships among the coronaviruses of man and between human and animal coronaviruses. Journal of Immunology (Baltimore, Md. : 1950), 102(5), 1109–1118.
  14. MimirBook. (2020). Virus (RNA Virus, Virus). https://mimirbook.com/ur/ccac44ce3bf (accessed, 12 January, 2020)
  15. Nuhu, A. S. (2020). The corelation between Covid-19 confirmed and recovered cases in China: simple regression linear model evidence. Electronic Research Journal of Social Sciences and Humanities, 2(1).
  16. Richman, D. D., Whitley, R. J., Hayden, F. G., eds. (2016). Clinical Virology, 4th edn. Washington: ASM Press.
  17. Tyrrell D. A., & Bynoe M. L. (1966). Cultivation of viruses from a high proportion of patients with colds. Lancet, 1, 76–77.
  18. WHO. (Dec 31, 2003). Summary of probable SARS cases with onset of illness from 1 November 2002 to 31 July 2003”. https://www. who.int/csr/sars/country/table2004_04_21/en/ (accessed Jan 19, 2020)
  19. WHO. (November, 2019). Middle East Respiratory Syndrome Coronavirus (MERS-CoV).” http://www.who.int/emergencies/mers-cov/en/ (accessed 19 January, 2020)
  20. WHO. Novel-Coronavirus-China. (12 January, 2020),https://www.who.int/csr/don/12-january-2020-novel-coronavirus-china/en/ (accessed, 21 March, 2020).
  21. Zhou, P., Yang, X. L., Wang, X. G., Hu, B., Zhang, L., Zhang, W., ... & Shi, Z. L. (2020). A pneumonia outbreak associated with a new coronavirus of probable bat origin. nature, 579(7798), 270-273.