How have recent global events affected Asian countries that are primarily dependent on tourism?

Topic: globalisation

Description

I want to comment and interact on this subject with 150 words Talking of Today’s Global Economy makes us ponder about the real situation the world is facing today and in particular the Asian Countries . Two major long haul events i.e. Covid and recent RussiaUkraine war have affected the whole globe. While Covid has impacted the economy of all the countries in small or big way some countries like Srilanka ,Thailand etc with their economies dependent on travel and tourism got affected badly due to travel restrictions because of Covid . The GDP Growth of all the leading global economies took a hit because of Covid. Lately economic activities in some countries have started coming back to pre Covid levels . While the global economy was getting back to track slowly after Covid the recent Russia – Ukraine War has affected the global economies once again . Russian and Ukraine being important supplier of Gas / Fuel to European countries the Gas prices have surged ahead. The Crude prices have also shot up to approx US dollar 120 per barrel. All the import dependent contries are importing fuel at very high prices leading to Inflation in respective countries, Russia and Ukraine are also major suppliers of Wheat and Maize to lot of global economies . This has created Food security issues for the dependent countries.