Every country affected by the pandemic will experience a recession one way or another. With travel restrictions in many countries, travel for both tourists and businessmen will be a challenge and will definitely have a big impact on the economy. Even local travel from one city to another will have to incorporate health protocols and this will be an added cost to all sectors of society.
The fear factor will also come into play in all our dealings. Limitations will always be imposed in order to have peace of mind for business establishments and consequently the customers.
After the pandemic every economy will try to recover and it will be a great challenge for many businesses. But what will make one economy thrive over another?
Great wise men have always sent a very important lesson in life and that is “Learn from your mistakes” and we can apply this to our situation now. All countries should take their time to reflect on what went wrong and really analyze and learn from what we experienced. The other half of that lesson is preventing a repeat of that mistake and that will take a lot of effort in gathering ideas and eventually implementing changes. The end goal is not to have a repeat of this pandemic.
Our “New Normal” is not simply putting in health protocols but this is not the only answer. The greater task is to mitigate and address any risks that may come our way in the future and institute disaster management. And this time, we will all have to do our part in doing this.
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