Question

what is the effective of aviation and maritime in corona virus

in the south asia

Answer 1

Q) what is the effective of aviation and maritime in corona virus in the south asia?

Answer- The coronavirus epidemic is taking its toll on global tourism, which according to the World Travel & Tourism Council contributed $8.8 trillion to the world economy in 2018. Some economists say the epidemic could be the biggest drag on global economic growth since the financial crisis, with airlines alone expected to lose some $29 billion in revenues this year.

The Asian countries closest to China, which is the epicenter of the outbreak and the world’s leading source of international travelers and tourism spending, are feeling the brunt of the crisis, but the effects are spreading.

Impact on the aviation industry is as follows-

The 2019–20 coronavirus pandemic has had a significant impact on aviation industry due to the resulting travel restrictions as well as slump in demand among travelers. Significant reductions in passenger numbers has resulted in planes flying empty between airports and the cancellation of flights.

Nepal Airlines the flag carrier of Nepal canceled all domestic and international flights by 20 March. The airline's international travel restriction was implemented prior to domestic restriction. The government indicated that the foreign airlines can conduct evacuation flights at any time despite air travel restrictions. From March 2020 in order to prevent the importation and spread of coronavirus infection, all aircraft including domestic and international were banned arriving in Nepal.

Indian airlines are estimated to report a loss of 600 million USD (not including state-owned Air India) for the January-March quarter. The government of India is planning a rescue package for the aviation industry for as much as 120 billion INR (1.6 billion USD).

Sri Lanka: Arrivals in February 2020 fell by 17.7 percent.

what is the effective of maritime in corona virus in the south asia?

The global coronavirus pandemic will hit South Asia very hard and the significant gains made in poverty alleviation in the region are likely to be wiped out due to the impact of the deadly disease. The coronavirus COVID-19 is sweeping through the global economy but the global shipping industry continues to operate keeping world trade running despite facing severe disruptions. .

Despite Asia’s prolonged struggles, it wasn’t until February that the global shipping sector started to really feel the impact of the Covid-19 pandemic.

shutdowns and limited activity further led to labour shortages across Chinese maritime segments, which in turn affected trade. “Exports from mainland China have dropped significantly in February 2020 as the Purchasing Managers Index compiled by IHS Markit dropped from 51.1 in January to 40.3 in February,” he says. “It is not surprising but still massive; it’s the sharpest deterioration since our survey started almost 16 years ago.”

Mid-February data from market intelligence service VesselsValue showed a radical drop in demand for Chinese crude tankers from an average of 3.4 billion tonne miles per day in 2019 to almost zero. According to the company’s Charter Rate assessment, the daily cost of hiring a very large crude carrier (VLCC) for a year plummeted by over 20% between 14 January and 14 February 2020. Spot earnings also decreased by more than 70%.

The container sector, another category that significantly relies on China, fell victim to the coronavirus outbreak. “The container sector is naturally less liquid but we have seen a reduction in rates and values. Containers are the most closely linked to economic activities and economic activity is down all around the world.