The coronavirus crisis has brought chaos to nations across the world. Fears and anxiety amplify as the virus is not only a health threat – but is also severely affecting livelihoods, businesses and the economy in general. Governments have imposed drastic measures to contain the COVID-19 virus such as travel restrictions and citywide lockdowns. Although these curbs have proven to be necessary for some countries – they have devastated local industries and businesses. Millions of people have lost their jobs and more will lose theirs in the near future. Shrinking economies will push countries into a deep recession.

Yesterday, The ASEAN Post published an article titled ‘The World’s Biggest COVID-19 Worries’ which mainly discussed about some of the biggest concerns for the world and businesses with regards to the pandemic. The World Economic Forum (WEF) in partnership with global professional services group, Marsh & McLennan and the Zurich Insurance Group released a report which taps into the views of nearly 350 senior risk professionals who participated in the COVID-19 Risks Perception Survey. 

Two-thirds of the professionals surveyed identified a prolonged global recession as the number one worry for businesses. Whereas half of the executives identified bankruptcies and industry consolidation, the failure of industries to recover and a disruption of supply chains as their crucial worries.

The future in a post-COVID-19 world is full of uncertainties. Some foresee a catastrophe, while some believe that things will never be the same again. A ‘new normal’ comprising of temperature checks and social distancing – might be here to stay until a viable vaccine is found. Nevertheless, media reports have suggested that there is a bright side to the pandemic. For example, researchers around the world have seen a drop in air pollutants as a result of the many virus lockdowns. It was also reported that some countries are already planning to redesign their cities and that the pandemic could possibly change city planning forever; making existing and future cities more sustainable, inclusive and circular.

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