Impact Of COVID-19 On Worlds Economy.
                     IMPACT OF COVID-19 ON 
WORLDS ECONOMY
INTRODUCTION
• The coronavirus pandemic has reached almost every country in the world.
• Its spread has left national economies and businesses counting the costs, as 
governments struggle with new lockdown measures to tackle the spread of the virus.
Source: www.bbc.com
Global shares in flux
• Big shifts in stock markets, where shares in companies are bought and sold, can affect 
the value of pensions or individual savings accounts.
Source: www.bbc.com
A difficult year for job seekers
• Many people have lost their jobs or seen their incomes cut. Unemployment rates have 
increased across major economies. The numbers of new job opportunities is still very 
low in many countries.
Source: www.bbc.com
Most of countries now in recession
• If the economy is growing, that generally means more wealth and more new jobs. The 
IMF estimates that the global economy shrunk by 4.4% in 2020. The organisation 
described the decline as the worst since the Great Depression of the 1930s.
Source: www.bbc.com
Travel still far from taking off
• The travel industry has been badly damaged, with airlines cutting flights and customers 
cancelling business trips and holidays.
• Data from the flight tracking service Flight Radar 24 shows that the number of flights 
globally took a huge hit in 2020 and it is still a long way from recovery.
Source: www.bbc.com
Pharmaceutical companies among the 
winners
• Governments around the world have pledged billions of dollars for a Covid-19 vaccine 
and treatment options. Shares in some pharmaceutical companies involved in vaccine 
development have shot up.
Source: www.bbc.com
Developing countries hurt by vaccine 
inequity
• With COVID-19 vaccinations being more pronounced in some countries than others, 
the report says, tourism losses are reduced in most developed countries but worsened 
in developing countries.
Source: unctad.org
Reduced economic activities
• Larger economic problems are associated with the current and potential future 
demand for oil translating into fluctuations in oil prices due to reduced economic 
activities driven by the COVID-19 pandemic. 
Source: unctad.org
Global financial markets
• Global financial markets have been heavily impacted by the effects of COVID-19 spread. 
As the numbers of cases started to increase globally, mainly through the US, Italy, 
Spain, Germany, France, Iran, and South Korea, the world financial and oil markets 
significantly declined. 
Source: unctad.org
Government support
• Despite the clear danger that the global economy is in, there are also reasons to be 
hopeful that this worst-case scenario can be avoided. 
• Governments have learned from previous crises that the effects of a demand-driven 
recession can be countered with government spending. 
Source: unctad.org