How long will it take for the economy to get back to normal after the COVID19?

Expert Solution

COVID -19 has posed a danger to the very existence of mankind. The whole world has literally been shut down. All economic activities are in standstill mode. Further, people are in constant fear of the spread of the pandemic. Thousands of people have been infected by the Coronavirus. There is no solution to such a large scale pandemic. Social distancing is the only way to control the pandemic.

Even if there is any solution to a pandemic, it will take a larger time to recover the economy. The economy is going to face acute depression. The tourism and hospitality industry will witness a sharp fall over the next few months. If even we are able to control coronavirus, People will remain suspicious about the future and they will not venture out for a longer period of time. thousands of people will lose their jobs in the hospitality and tourism industry. International trade will remain subdued for a long period of time.

If Covid-18 dealt with new medicine, still it will take at least over one year for economy to get back to normal.

Rahul Sunny answered 8 months ago

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