FIVE EFFECTS OF COVID-19 TO DEVELOPED COUNTRIES

Corona Virus Disease a world pandemic that is gradually spreading across the globe since the beginning of 2020 to date is to be taken seriously. The disease is slowly crushing economies and socially degrading societies depriving people of their normal day to day activities. Below are five effects of the pandemic to already developed countries.

1.Deaths of citizen.  The disease has caused numerous deaths in countries such as USA and Italy which are first world countries. Italy has done the best that seems not to match the pangs of the virus that has plunged the country into total lockdown. USA has also been severely hit by the virus with New York recording the largest number of confirmed positive cases.

2.Loss of skilled manpower. The disease has led to many sick people who were vital in steering the economy in various sectors. Some have died due to the disease hence a reduction in skilled labor force

3.Reduction in trade activities. The closing of airspaces in the respective countries has blocked potential investors from visiting. It has also led to reduced importation and exportation of some goods hence a blow to businesses. Within countries that have declared a total lockdown, essential trade activities like transportation have really slowed down.

4.Alteration of budget allocation. The high virulence and costly medical care required to combat the virus has seen many countries alter their national budgets to focus on covid-19. This shall afterwards affect the economy because some sectors shall lack money to run their activities.

5.Nosophobia. Everyone is highly alert about COVID-19, as they take precautions and follow government regulations. Some people, however, may develop fear of getting the disease out of experiencing others die or suffer from it. This may trigger nosophobia, a disorder where  there is  irrational and abnormal fear of developing a disease.

It is therefore prudent for all of us to be careful as we observe the regulations set up by World Health Organization and various governments of respective countries.