Data gathered by Learnbonds.com indicates leading tech companies have donated at least $1,4-billion towards mitigating the coronavirus.
The donations are from 10 companies with a majority based in the US.
The data show that Google has donated about $800-million to businesses and healthcare workers, while Cisco has pledged $225-million towards the course. Social networking platform Facebook has donated $120-million while the Dell Foundation has pledged $100-million and Netflix $115-million.
Other companies that have donated towards the cause include Amazon ($32-million), Samsung ($29-million), Apple ($15-million), Microsoft ($1-million) and Twitter ($1million).
The Covid-19 pandemic has hit the global economy hard stocks dropping to their all-time lows in history. However, the travel and tourism industry is the most impacted sector.
An overview of the top travel and tourism markets indicates that 2020’s revenue projections will significantly drop compared to 2020. For example, China will be the biggest loser. This year the country’s tourism and travel revenue will be $70,5-billion which is a drop of over 40% compared to 2019’s $117,8-billion.
US revenues will drop by about $15,6-billion followed by Italy at $4,8-billion in revenue. Germany is set to lose $3,18-billion.
Based on these projections the four countries will lose about $70,88-billion in revenue as a result of the pandemic.
The sector has been the most impacted because, in a bid to contain the virus, a majority of governments grounded planes and closed borders to curb the spread of the virus. After the pandemic is over, the tourism sector’s main focus will be putting in place recovery measures.