Date Published: May 26, 2020
Source: World Economic Forum
The Committee for the Coordination of Statistical Activities (CCSA) has released a new report which seeks to describe the economic and social impact of COVID-19 in different areas of the world. According to this report, the aviation industry is facing its worst-ever crisis, with 90% of the global fleet grounded and tourism forecasted to fall by 58-78% this year. Meanwhile, global commodity prices have seen their largest fall, dropping 20.4% in the month to March 2020 and global trade for the second quarter of 2020 is now forecasted to drop by 27% compared to the same quarter last year. In terms of social costs, the education of 1.6 billion learners was disrupted, which is approximately 9 out of 10 students. While lockdown measures have reduced violence in countries with relatively low homicide rates, such as Italy, there has had little or no impact in countries with high levels of organized and gang crime. Lastly, efforts to eliminate extreme poverty are set back immensely with global poverty expected to rise for the first time since the 1998 Asian Financial crisis with 40-60 million people expected to be pushed into extreme poverty – that is, living on less than $1.90 a day, as a result of COVID-19.
Read the full article here: https://www.weforum.org/agenda/2020/05/statistics-are-key-to-understanding-covid-19/
Summary by: Sophia Duong