The Coronavirus is a pandemic that has changed the way the world operates. The economic sector was not spared as we witnessed even major economies brought down to their knees.
COVID 19 brought new challenges that require different solutions.
Writing an essay on the new economic reality will help us understand the damage caused as we strived to develop the appropriate solutions. When writing, consider the following sectors:
- Health Sector
The pandemic directly hit this sector.
The new reality brought by COVID 19 in the health sector is that many countries improved their health facilities and empowered their health workers. We saw many medics put to work, and this provided job opportunities for them.
- Airline Industry
This sector was majorly affected when countries started imposing lockdown restrictions.
After the pandemic broke out, countries restricted traveling to other countries and even other cities. This greatly affected the airline industry as we witnessed significant airline companies close down. Various governments had to support their airlines to prevent them from shutting down.
The new economic reality is that most, if not all, companies have undergone losses and need to find a way to salvage themselves. Others have loans that need to be repaid. With these realities clearly defined, it makes the solution-finding process an easy task.
- Education Sector
The rapid spread of this virus led to many schools across the world to be closed.
The new reality is that students have lost precious time that they would have spent learning. We would have witnessed many graduations, but that is not the case. This led to joblessness to teachers and other non-teaching staff. If students graduated, the workforce in the country could have increased.
Another reality is that it will be challenging to go back and pick up studies from where we left with all that time away from school. There will be assignments waiting for us and some catching up to do. The main question is – can someone write my essay for me, or what should I do when things go haywire. Finding the right site with low cost will make things easier as every student retune their minds back to the school environment.
- Banking Industry
Banks have significantly been affected by the Coronavirus as we witnessed them recording a drop in their profits.
The new reality is that customers cannot pay their loans on time because many are jobless. Therefore, there is a need to find a way to raise the money conveniently from their customers.
Employees from the banking sector became jobless since most banks were unable to pay their salaries. This was brought by a drop in banking activities during this period. We now need to find ways on how to absorb those employees back to the banking sector.
- Tourism Industry
This is closely related to the airline industry.
Most tourism sectors depend on tourists from other countries. The restriction of movement to other countries negatively affected the industry. The new reality is that tourists are cautious about visiting other countries due to contracting the virus. When writing an essay on this, discuss how best countries can salvage the tourism sector. You can decide to focus on how the state can raise revenue from domestic tourists.
With the many changes brought by the pandemic, we need to develop new ways of coping. The first step is to have an idea of where we are and determine what steps to take. The best way to do this is to come up with an essay on these new realities. Be keen to focus on the above areas since they are the most affected worldwide.