The impact of COVID-19 is devastating. Now, it is not a question of whether the coronavirus pandemic will cause a global economic downturn . The damage has made. It is about how much the economy will shrink. The numbers are depressing The Dow’s closed at 19,173 points last Friday, the lowest since December 2, 2016. A few weeks ago, in mid-February, the Dow’s was still at its highest level, reaching close to 30,000 points. There seems no hope for a quick rebound. More states are joining California to pause non-essential businesses and urge/order residents to stay home, adding more shutdowns and layoffs. Hotels, restaurants, airlines, and retailers, for example, warned they might have to lay off millions of workers unless they received hundreds of billions of dollars in emergency funds. On Sunday, the highly-anticipated emergency economic rescue plan failed to move forward in a 47-to-47 vote in the Senate. In response, the Asian markets and the U.S. stock futures pl...
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