Which Country or Countries Suffered More on COVID-19 Pandemic Economically?
countries with high percentage of tourism industry to GDP suffered a lot.Most countries like Maldives,British Virgin Islands,Macao,Aruba,Seychelles have greatly suffered since over 20% of GDP comes from tourism.they have missed all this earnings up to now.
Europeans have greatly suffered
Europe would have suffered as well as America.
I know parts of Australia have suffered as the government has closed the borders and there are borders that are closed internally between the different states of Australia.
Those industries such as tourism and hospitality.
America suffer most in the COVID-19 pandemic.
All countries have affected by Corona virus. Airlines companies all over the world affected and already start to downsize their manpower size . Many of the companies already looking for financial aid from government and elsewhere to sustain their business. Many of them have to close business if the situation continues.
Lot of countries suffered a lot, like Birember04 said countries with high percentages of tourism suffered a lot. Most countries in, Europe, us as well as in Africa.
I think China is the hardest hit by the pandemic both in short and the long run. In the short run, the demand for Chinese goods has decreased dramatically due to the weakening economy in all countries worldwide, which most of them are Chinese goods importers.
Furthermore, China has lent a tremendous amount of money to the developing countries for the Belt and Road Initiative. And most of these borrowing countries suffered economically from the pandemic. They cannot repay their debt to China.
Furthermore, the escalating tension between China and the West has made many private companies leave China. And it will cause a lot of unemployment in China. Let see what happens in the next few years.
I think is the country that suffered highly on COVID-19 pandemic economically .
I’d say, globally , all the economies suffered the similar fate as a result of lockdown of the global economy. There no aingsi sector of the economy that works independently of the other. They are series of interconnected departments of a countries that makes the economy of the world Here, I can say that all sectors shared the same fate.
According to a report by Forbes for the second quarter ending in June 2020, measured by contraction in GDP, Spain is the hardest hit… followed by France, Italy, UK and the Czech Republic.
It is going to be difficult to determine at this stage as the northern hemisphere is going through a second wave.
I think the whole world has been rocked by the pandemic but especially the devleoped world because their ecomonies are built on trade and tourism the so called underdeveloped countries will of course be impacted but not to same scale.
China is booming their economy has grown 4.9% in the last quarter. The UK economy shrank by 19.8%
I think USA was mostly affected by COVID-19 during the lock down period. Even now USA is negotiating printing of billions of dollars to support their economy.
In conclusion we can say that the entire world has suffered economically. If the most developed countries are affected it has or will probably affect the non developed countries which economy’s depend most of the time on the economy of developed countries.
European countries like italy, Spain and UK not forgetting the US
Certainly the main European countries are getting hard hit generally because that where people want to be to have the highest standards of living so a high populous in the cities. What happening in Russia? they seem very quiet or are they suppressing the news?
The world’s economy in general has been strongling affected. It will certainly take years to cover loses caused by covid19 pandemic. Many bid companies, factories, are demanding aid from the government to make a new start up.
Many countries has been affected economically of the covid pandemic. It is different to pick out a special country, but I think the United States have suffered much.
By this time, we have, it seems that United States of America is taking the first place to suffer from the civid19 disease, still now the number of news cases is increasing exponentially and the death are several.
US has suffered a lot. It’s leading in Covid19 deaths globally.
I think all countries are tasting defeat against this pandemic. This also happens in Indonesia, cases of people exposed to this virus are increasing. Many people lose their jobs and find it difficult to find work so that many people are unemployed. The economy of the people here has also declined.
I think is china that suffered it so much but economical and in health wise
Currently, i think the USA is taking the Top. The number of Death and new cases is increasing exponentially, i will considerably impact their economy.