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No doubt, COVID-19 is the global disruptor of the 21st century.
We have always read about pandemics. The 21st-century pandemic is poised to stagnate the global economy in ways our leaders never imagined.
Tourism: hit highly
World Sport: hit highly
Entertainment: hit highly
Transport: hit highly
Conferences: hit highly
Let me explain:
Tourism: hit highly.
Tourism contributes an estimated US $8.8 trillion annually to the global economy. (Source: World Travel Tourism Council).
This means that the current lockdown reflects a daily loss of US $241,095,890,411! Cities with the highest business and leisure tourism shall feel the pitch.
The world has been preparing for great global events like the Dubai Expo, which happens this year starting in October 2020.
The Magic Las Vegas, that starts on 17th August 2020 may be off. For a detailed list of global events that may not take place, visit https://10times.com/top100.
You don’t want to know the cost to the organizers when an expo is postponed – too much value is created without demand leads to loss.
Keep in mind that the global tourism industry contributes to 319 million jobs annually!
Global Sports
There is arguably no event in the world that contributes to the deepening of the United Nations Partnership as a competitive sport – football, netball, golfing, and of course the Olympics.
These are the highlights of life. Of the global diversity. Of the possibilities of the determined human being. Tokyo Olympics planned for July 24th, 2020, now risks being postponed. Already calls for its postponement are underway.
Global leaders must find a quick solution to this virus that risks humanity’s lifestyle. The Olympics meet MUST go on. That is our scientific reasoning. Sorry, I wanted to mean our prayer!
The global sports market is estimated at the US $688.5 billion. That is a daily value of over US $1.3 billion lost.
You get the picture.
This virus is a disrupter. Heck, any business that thrives on crowds and groups is being affected. And the impact could be felt for more years to come.
The world cannot escape a recession. This calls for increased global partnership and leadership on how to manage the virus.
What we need:
A global response strategy for COVID-19. The United Nations leadership is needed now than ever before to provide a clear global strategy blueprint to increase awareness, containment, treatment and post COVID-19 recovery. This is not a “Wuhan-virus.” Or an “Italy” virus. It is a global pandemic that requires a global strategy.
The progress which has been made by humanity is immense. United Nations must make funds available to Scientists for a quick solution to immunize people against the virus.
Life is man’s most prized possession. Let’s not threaten it for nothing worries man like the fear of the unknown – death by a Coronavirus!
Copyright Mustapha B Mugisa, 2020. All rights reserved.
