Economies now looking to bounce back as lockdown eases

Economies now looking to bounce back as lockdown eases

The current pandemic has not just been a US issue but a worldwide one. It has meant that lockdowns have and still are in force in many areas of the world, which continues to damage economies, with businesses closing and people losing their jobs. This really is a major issue and it is now expected that it could take some time for recovery.

But as time goes on, more and more pressure is being put under governments to ease these lockdowns, with the general public starting to change their stances on the advice to stay in lockdown. It truly is an unprecedented period of time, with no set way in order to best deal with it, so it is simply a learning game and we can only hope for a positive future moving forward.

The United States have been the worst affected by the pandemic in regards to the numbers, which are continuing the rise. Maryland itself has also had over 33,000 confirmed cases of the virus and has also surpassed 1,600 deaths, with the overall death toll about 100,000 in the United States.

Economies have been badly affected in states around the US and many are now looking to open, with businesses and staff returning to work. Some industries have been positively affected by many others negatively. The lockdown has meant that people are looking to entertain themselves from their own home, which is little surprise that streaming platforms such as Netflix are seeing major growth.

Social media usage is rocketing, as is the use of mobile games and online casino use too. In fact, with the latter, operators are being forced to innovate new products and utilize additional online slot offerings in order to capture some of the ever-increasing market share available. Online slots are now greater in their numbers, with software providers frantically looking to add USPs to their product list – something which will set them apart in an ever-growing domain.

Although online casinos have seen numbers continue to rise since the lockdown began but it has not been all positives for the gambling industry, with land-based casinos closed. However, many are now looking to reopen or already have done – South Dakota casinos being one of them, which led to a big reopening weekend for the different establishments. Could this re-opening of casino floors then lead to fewer players online? The big turn-out is positive and will likely be followed in other areas and industries, once economies reopen.  c

Despite these positives for the entertainment industry, many other industries have been badly affected. None more so than the travel industry, with airlines and hotels seeing endless cancellations. The hospitality sector is in a ‘fight for survival’, according to AHLA president and CEO, Chip Rodgers. This gave a further example of the severity of the current situation, with more and more jobs being cut.

They also reported that the impact of this pandemic has been nine times worse than 9/11 and 47% of total positions of jobs being lost. The industry experts also now believe that it is going to take until 2022 at the earliest for some form of recovery and hotels to return to normality, with the same occupancy and revenue levels as 2019, before the virus hit the world.

Across America economies are now looking to reopen, with a state-to-stage staggering approach. The big worry for many is whether re-opening to early, could lead to a second peak and then further restrictions then being added again. This would lead to an even worse impact on businesses and the economy, as they look to recover. Also at a time, as the death toll has long surpassed the number of people that were lost in the Vietnam War.

President Trump, has already stated that governors’ should be looking to re-open their economies. He also said he believes that the country can bounce back and return to how it was before the outbreak. An economy he states was the greatest in the history of the world. It is now a very important period of time for the world, which needs to bounce back and return to normality, with the United States as expected at the forefront, with other nations set to follow our lead.

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