The year 2020 started with a major global health emergency which was not expected to emerge. The novel coronavirus pandemic initially started in China with the country’s Hubei province of over 58 million people being the epicenter. The capital of the region Wuhan was the first major region globally to go under strict lockdown, with all movement within and in or out of the city suspended. Yet, today, the pandemic has spread across all continents with the number of infections nearing 3 million while almost 180,000 have died.
Not many people expected that the epidemic spread so fast in China would cover the entire planet. In response to the outbreak in Hubei and then across all of Mainland China, the vast majority of nations soon suspended direct flight services with the nation. However, unfortunately, this measure was too late and not sufficient to contain the spread of the virus.
COVID-19, as it was named later, first entered nations on the Asian continent, followed by the rest of the world. Soon, Europe reported its index case in Bordeaux, France, followed by Finland, Spain, Italy, the United Kingdom. Across the Atlantic, the United States also confirmed its first cases. However, the possibility is that the virus had already long spread across these nations.
Italy soon became the global epicenter of the pandemic as the virus spread at an enormous rate across the nation’s northern region of Lombardy. This area is the richest in Italy, home to the country’s financial, transportation and cultural center Milan. The area soon went under unprecedented lockdown, affecting the nation’s economy immensely. The country remains one of the most affected around the world with over 185,000 cases and 24,000 deaths reported.
Yet, the pandemic soon spread across all other nations, particularly in Europe and the Americas. Spain now is the frontline in Europe with over 200,000 confirmed infections, while the United Kingdom is expected to overtake many of the most affected nations in Europe. The British Prime-Minister Boris Johnson is still recovering from coronavirus after finally leaving the Intensive Care Unit of Thomas’ Hospital in central London.
Yet, the worst scenario can now be witnessed in the United States, which became at the top of the list of most affected countries overnight. Many believe that the government failed to respond to the crisis in time as president Donald Trump refused to introduce strict lockdown measures up until the very critical point. Nevertheless, the fact is that the world’s biggest economy is now threatened by the spread of the virus as it now counts over 800,000 coronavirus patients.
The pandemic’s impact on businesses
Perhaps, the biggest effect of the pandemic, after the human cost, is its detrimental consequences for the global economy. The impact it generates is simply unprecedented, as the world prepares to dive into the worst recession in almost a hundred years. Obviously, businesses small and big are highly affected by the virus. Millions of people have already lost their jobs since many companies are unable to sustain themselves anymore. Amid the economic downfall and almost non-existent demand on travel and leisure, WTI went under $0, possibly a devastating scenario for hundreds of US firms.
The pandemic is not as bad for some enterprises
Despite the unprecedented circumstances we live under, some businesses have found success amid the global pandemic. As for now, the vast majority of the global population is under lockdown or is highly affected by at least one COVID-19 measure locally or internationally. This massive change in how we live on a daily basis resulted in a growing demand for smart, remote technology. We have now realized that stopping the economy altogether will be exactly as devastating as the human cost we are witnessing.
Fortunately, the 21st century is full of opportunities we can utilize in an effort to boost the global economy. Staying does not mean being counterproductive as technology enables us to work or have fun while staying at home.
One of the first changes the global economy witnessed occurred within the gambling industry. Online casinos have been popular for quite some time now. However, as the world-famous gambling meccas, such as Monaco, Las Vegas, and Macau closed their doors to visitors, the digital gambling industry immediately started to flourish even further. Spinia.com online casino representatives say that the lockdown and ‘stay at home’ addresses by world leaders have affected even larger gambling platforms, such as theirs.
On the other hand, smaller and newly-emerged gambling start-ups are using a once in a lifetime opportunity to establish themselves within this growing market. Many believe that online gambling revenues will reach outstanding sums even in some more sophisticated or conservative nations at the end of 2020.
Online conferences: Zoom overtaking the world
No one knows when exactly will we get back to normal, but the majority of scientists suggest that it will not happen anytime soon. Moreover, they believe that our behavior and our way of life will have to change forever, even after the pandemic has faded away.
In this utterly rigid situation, many educational institutions and businesses are trying their best to keep on working, learning and teaching online. Zoom is the platform we all hear about these days. It makes international headlines and is used by leading institutions and government offices.
However, many forget that Zoom was not a major corporation and an easily-recognized brand prior to the pandemic. The startup that offers video conferencing was lagging far behind Skype and other competitors. Yet, it’s advanced features and easy access made Zoom the real star of the pandemic. Reuters have reported that the number of daily users exceeded 200 million in March while the same figure had reached the absolute maximum of 10 million before COVID-19 lockdown measures were implemented.
Besides, countless startups are doing well during the pandemic. They are benefiting from lockdown measures and strict regulations since many of them are focused on remote work. Therefore, the fact is the tech enterprises, especially those that can be put to good use during the global health crisis are not under a threat, but on the contrary, can gain profits, significance, and recognition during it.