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SANEA Technical Resources COVID-19

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This is the human impact of COVID-19 – and how business can help

  • As business close to help prevent transmission of COVID-19, financial concerns and job losses are one of the first human impacts of the virus;
  • Not knowing how this pandemic will play out also affects our economic, physical and mental well-being;
  • Despite this fear, businesses and communities in many regions have shown a more altruistic response in the face of crisis – actions which could help countries preparing for COVID-19.

COVID-19 is in decline in China. There are now more new cases every day in Europe than there were in China at the epidemic’s peak and Italy has surpassed it as the country with the most deaths from the virusIt took 67 days to reach the first 100,000 confirmed cases worldwide, 11 days for this to increase to 200,000 and just four to reach 300,000 confirmed cases – a figure now exceeded.

The human consequences

In recent weeks, we have seen the significant economic impact of the coronavirus on financial markets and vulnerable industries such as manufacturing, tourism, hospitality and travel. Travel and tourism account for 10% of the global GDP and 50 million jobs are at risk worldwide. Global tourism, travel and hospitality companies closing down affects SMEs globally. This, in turn, affects many people, typically the least well-paid and those self-employed or working in informal environments in the gig economy or in part-time work with zero-hours contracts. Some governments have announced economic measures to safeguard jobs, guarantee wages and support the self-employed, but there is a lack of clarity in many countries about how these measures will be implemented and how people will manage a loss of income in the short-term.

 

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