COVID-19 pandemic has wreaked havoc on the economies of the countries around the world, caused shutting down all the industries, services, manufacturing units, entertainment sector, schools & colleges. It has jeopardized the usual lifestyle of people by all means. Every sector of the economy has been affected in some way or another.
Our generation is now facing an unprecedented time that we have never come across before. The course of our lifestyle is changed; the pandemic has shaken the whole system of the world.
In this article, we will discuss the impact of COVID-19 on every aspect. The article is based on various research papers and online news portals that have done in depth research and analysis on covid-19 pandemic and it’s impacts.
Shaken & Fragile Economy
COVID-19 has caused the world economy to become standstill from the earlier days of its outbreak. Most of the countries in the world have announced a complete shutdown of the economy for an indefinite period, except emergency services. The most challenging task now is to revive the world economy from the months of disastrous lockdown. Many of the major & emerging economies couldn’t grow at all in the last few months, followed by a negative GDP growth for the world economy. Economists around the world predict that the pandemic will have a lasting effect on the economies around the world.
Job Loss & Changes in Job Pattern
An enormous amount of jobs has been lost forever to the doom due to the COVID-19 pandemic. Many professions are going through rough patches. People have come to distinguish between essential jobs & non-essential ones. The preference for remote work has risen over time since the lockdown; work from home is also now encouraged. Finding talent has become accessible as a new fresh talented & skilled workforce can be hired & will be available globally via remote work.
Changes in the Education System
One of the primary segments of economies that have suffered the most is the education system. The education system is considered the backbone of any economy. The education system was seemed to be at stake until the schools & universities offered online classes to their students. As technological adaptation was the only option left to the educational institutions to conduct classes & examination. Availing education has never been so easy & hassle-free, digital learning has also ensured a rise in blended learning & learning management system.
Impact on Social Interaction
COVID-19 is not typical flu, the virus transmits through touch, cough, sneeze, any surface area, and it is an airborne virus. So, the interaction among people has lessened over time. Citizens are requested to follow the protocols of the World Health Organization & the advisory from the central government. Socializing, attending parties, going on vacations, etc. will be not be considered normal activities for a longer period until the vaccine arrives.
The lockdown followed by the breakout of COVID-19 around the world has caused a positive impact on the environment. As factories, manufacturing units, the transport system had become standstill; the carbon emission has dropped drastically. The air quality has improved, noise pollution & water pollution have also reduced, wildlife & habitat have flourished due to less human intervention, energy & fuel consumptions all over the world have decreased. So, the overall impact on the environment is positive.
The pandemic has caused a renaissance in the digital world. People have come to realize the importance of digital literacy & regret not considering it in the earlier phase of digitalization. Post pandemic world is relying on digital methods & digital transformation. From financial transactions to availing education, everything is happening around the world digitally.
Impact on Hatred & Terrorism
The impact on terrorism & hatred has turned out to be a positive one. As the whole world is fighting against the virus, & the economies are going through tremendous turmoil, the terror funding has stopped. The hatred activities are gradually decreasing ever since the earlier phase of the pandemic.
Post pandemic world will be completely different than the one we have seen earlier, as experts predict. The world will be transformed & will be accustomed to the new normal eventually. The pandemic may have negative impacts on human civilization, but it has left a few positive impacts as a whole.