COVID-19 and its Socio-Economic Implications on the World Economy

Abstract

The world is currently facing unique and extremely challenging circumstances as a result of a deadly Coronavirus (COVID-19). It appears that the threat of COVID-19 has spread to nearly 190 countries and territories, with additional reports coming up every day. Those negative effects have been observed worldwide, particularly in emerging and developed countries. Tourism, restaurants, hotels, and other food and beverage businesses are severely affected by the economic downturn. In this paper we conduct in-depth analysis of how this infectious disease is affecting various sectors, such as,transportation, food and beverage, lodging, and the stockexchanges.