The Impact of Coronavirus on the Economy: Is Your Business Affected?

The Impact of Coronavirus on the Economy

What is the impact of the Coronavirus on the Indonesian and global economy? This is a question that may not be the answer.

The Coronavirus has become a serious concern for mankind in all corners of the world. The reason is, this virus has become an epidemic where it is spreading very quickly and across countries.

There are various concerns surrounding the Coronavirus, both at the personal, family, regional, national, and even global levels.

Maybe some of us have asked ourselves, what are the chances that I or my loved ones are infected with Corona? What will I do if I or my loved ones are infected with this virus?

On the other hand, business people also have very big concerns. How will the Coronavirus affect my economy and business in the future?

Through this article, I will try to share what I know about the Coronavirus and its impact on the economy, as well as the potential steps we can take.

What is Coronavirus? 

Basically, there are many types of Coronaviruses, such as; SARS, MERS, and several others. The name "Corona" refers to the light around the ring structure of the virus when viewed under a microscope.

In this case, the Coronavirus in question is COVID-19, which is a virus that infects the respiratory system. A person who is infected with this virus is known through symptoms that arise in humans, such as flu, fever, cough, and shortness of breath.

This virus can be transmitted from one person to many other people in various ways, such as; through touch, sneezing, coughing, and so on.

According to WHO, the best way not to be infected with this virus is to maintain hand hygiene, avoid people sneezing/coughing, and maintain distance from other people when in a crowd.

What has been the impact of the Corona Virus on the economy so far?

There are several industries that have been badly affected by the recent Covid-19 outbreak. Especially industries that depend on goods produced in China because production there is slowing down.

In addition, several industries are also experiencing a decline or being negatively affected by the Coronavirus pandemic, including;

  • Hospitality industry
  • Manufacturing industry
  • Tourism business
  • Retail business
  • Luxury goods business
  • Global stock market
  • Smartphone business
  • Transportation business (plane, ship, land transportation)

According to several sources, the manufacturing, tourism, and hospitality industries have been hit very hard since the Coronavirus pandemic. This is evident because there has been a significant decrease in occupancy so that various companies are making various efficiency efforts.

Apart from those mentioned above, it is possible that other industries are also experiencing a decline as a result of the Coronavirus pandemic.

What Happened Next?

Currently, business actors are waiting and seeing developments because there is no certainty about the situation. And of course, the next development will depend on how effective the Coronavirus control measures are taken by the Indonesian government and its people.

As we know, various cases that occurred outside of China, including South Korea, Iran, and Italy, have experienced a significant increase.

However, of course, we cannot stand by just watching and waiting for the situation. Even though you are waiting and see, it doesn't mean you are doing nothing.

What we can do?

Regardless of whether you currently feel the impact of COVID-19 or are afraid of it, there are several steps we can take as individuals who care about ourselves and others.

1. Start Working From Home

In accordance with the direction of the Indonesian government, currently, it is highly recommended that employees do their work from home ( work from home ).

Of course, the policies of each company will not be the same because some jobs cannot be done remotely or online.

Maybe some professions cannot make this effort, but those who can consciously follow the direction of the government.

This effort is carried out aimed at minimizing the potential for the spread or transmission of the new Coronavirus that may occur in the work environment.

2. Maintain Health

In fact, the Coronavirus can infect anyone. But when that happens, those who have optimal body resistance have a better chance of recovering than those who are less fit.

Maintaining health can be done by adopting a healthy lifestyle by eating healthy foods regularly, exercising, and getting enough rest.

In theory, a healthy lifestyle is not difficult to do. It's just that most humans do not want to care about themselves or others.

This short article does not explain completely because I am not an expert. However, there is nothing wrong with you and I have become more aware of the development of the Coronavirus pandemic.

The current situation is quite difficult and full of challenges for all parties, especially for business people who often interact with many people. However, I believe, at some point, this problem will be resolved, and only those who care can benefit from any challenges faced.

Happy doing business, and hopefully, stay healthy always!

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