Impact of COVID-19 on Economic Sectors

Introducing People
Management

Table of Contents
INTRODUCTION...........................................................................................................................3
MAIN BODY...................................................................................................................................3
History and research....................................................................................................................3
Impact on tourism, aviation and retail sector of the economy....................................................4
Impact on customers...................................................................................................................4
Impact on financial markets........................................................................................................4
Impact on GDP............................................................................................................................5
REFELCTIVE ESSAY....................................................................................................................5
CONCLUSION................................................................................................................................6
REFERENCES................................................................................................................................7

INTRODUCTION
The occurrence of the covid-19, will make an impact on the social and economic life in
the worldwide. In this assignment the main focus is on impact of covid-19 in economic sectors.
There are various sectors which are affected by the covid-19 such as, aviation, tourism, retail,
MSMEs and retail industry (Deb and et.al., 2020). This sectors affect the growth of the countries
when the nationwide lock down which indirectly brought the life to deadlock. A world which is
busy with their buzzed activities has fallen silent and all the resources are meeting the
unexpected crisis. The impact of covid-19 make the multi-sectoral activities impact of the virus
as the result the economic activities are slow down.
MAIN BODY
History and research
The research of covid-19 assess that the impact of the this pandemic have been based and
manage by the simulation models. In a case study the researcher state that the impact of 1981,
Spanish flu, make a strong impact on the Swedish economy. That flu and its research is based on
the neoclassical model. This model show that how the pandemic affect the demand and supply
and adjust the equilibrium situation. Same as that the covid-19 virus which is origin by novel
coronavirus infection. The scientific studies is researching on the impact of this virus on the
human life and try to find a possible cure for this novel coronavirus infection (Fairlie, 2020).
COVID-19 infection rate are based on the two variable which are asymptomatic and
symptomatic cases. There are various sectors which are affected by the novel coronavirus and
this make an impact on the economic crises and downfall in the economic-financial situations
across the world.
The impact of the covid-19 is on the human life is major as as per the research it is
revealed that 90,335,008 cases are conformed cases of covid-19 which is including 1,954,336
deaths and in this report, the most affected country is United State of America. In this pandemic
crises many countries are come together and help each other in order to manage the outbreak.
With the globalization, environmental changes, urbanization and various infectious disease have
been become the global threat and the need is arises to make a collective response.