Coronavirus, which was originated in Wuhan, China, has severely spread and has cost irreplaceable damage to the world. Resulting in more than 587,315 deaths and 5.14 Million cases, the virus has become a disastrous disease. The disease with no vaccine and cure has left the businesses around the world counting costs.
Coronavirus is spreading destructively causing a massive loss to the whole world in each and every way. Whether it is the department of tourism, or the economic condition, and job employment, everyone is suffering. The virus has successfully stopped the world with the economy and world trade getting bend down to knees. The shares held globally are being hit massively.
People are filing for unemployment in the USA. According to the 7dollaressay, more than 26 million jobs were lost during the pandemic. Countries are implementing lockdowns forcing people to stay at their homes. The results are showing that the country’s economic condition is massively destroyed.
Coronavirus spreading in more than 198 countries, each of them is having its own story. Some of the countries who were already struggling with their progress, now have been completely piled up with a huge loss. Here is the list of those 7 countries who are affected badly during the pandemic in every aspect.
The outbreak of coronavirus in Italy has been the deadliest in the whole history. The death toll reaches to the highest at the beginning of May. It is the first country in the whole of Europe to implement the lockdown. Italian people are facing the quarantine since March 9. Since Italy generates a huge amount via the tourism department of the country and it has now been shut since the lockdown. Italy is facing around 11.1% of unemployment ratio in the country.
Spain has recorded one of the highest death rates of times. The country imposed the shut down on 9 March to control the situation of coronavirus. Spain generates 15% of its GDP via tourism which is now suffering due to pandemic. The unemployment ratio in Spain reached up to 14.4%, which is one of the highest ratios in the history of Spain.
United States Of America (U.S.A):
The USA has become the center of coronavirus. It records up to more than 140,170 deaths which are the highest death rate due to pandemic in any country. The lockdown is also implemented nationwide, which resulted in other factors, mainly the fall of the prices of crude oil. BritishCoursework-Online Coursework help company also supported, the fall of prices is clobbering the economy of the whole United States. Other key industries in America are also facing a massive fall. The unemployment rate in the USA is the skyrocketing along with the coronavirus cases, which is declined to 11.1 percent. Around 50 million people applied for the unemployment benefit in America.
France is one of those countries which have the highest record of the coronavirus cases. The country went into lockdown mode on 17 March to slow down the spread of coronavirus. This resulted in getting the economy of the country to the ground. The Finance Minister of France claimed that France is going through the biggest economic slump since after World War II. 31% of the economic happening of the country slowed down, and the tourism sector faced a huge call off. The government of France pledged $50 billion to come over the pandemic situation. The unemployment ratio in France declined to 7.8% during the pandemic.
The UK is among those 7 countries who faced a huge number of coronavirus cases along with a high death toll. The nationwide lockdown was implemented after the condition ran out of the hands of the government. The UK has seen the worst results of the pandemic for its economic situation. AssignmentMaster has also agreed that the pound has also fallen sharply than dollar and euro. The GDP is fall and recorded at 7.8%. Around 6 million people lost their jobs. The unemployment ratio is about 3.9% during the pandemic.
Germany has also seen some worst time ever in history due to the pandemic. The lockdown was implemented in the country and then ease down after the fall of coronavirus cases. Germany’s stock market index went 29% low. The country’s GDP is calculated to fall about 5.4% due to the pandemic. The unemployment ratio is comparatively lesser than the other countries, which is 3.9%.
Mexico had put a stop to the activities in the country after the coronavirus outbreak. It helped Mexico and the coronavirus cases are relatively low. But Mexico is paying considerable costs to overcome the loss which it suffered during the pandemic. It is expected that the economy of Mexico is one of those 7 countries who have been massively hit by the coronavirus. The unemployment ratio lies between 3.2 to 3.5%, though the country is struggling with its economic loss.
The coronavirus pandemic has made every country suffer in its own way. Even successful countries are massively hit, and the economic condition is facing a huge loss. Countries with better situations are also looking forward to opening up the tourism sectors and are planning to lift the lockdowns!