Impact of Coronavirus on the UAE Economy

What is the coronavirus? And what are the impacts of this virus?

Additionally, through what ways are effecting the economic values of the UAE? All the answers to your questions detailed in the following article. The coronavirus is the disease that is spreading all over the world. It is spreading very fast that we can’t even imagine. 

The coronavirus has spread great terror amongst many people. The viral disease is spreading from person to person. Thus, the government of the United Arab Emirates has decided to lock down everything. Therefore, people should stay in their homes. 

By staying at the home mean, you should avoid contact with other people and take care of yourself. This disease has many impacts on the routine life of everyone. The virus is also affecting the economic values of the state. 

The globally spread disease was at first detected in China’s country named Wuhan. Further, this disease is then spread all over the world. The World Health Organization declared the corona-virus as a worldwide pandemic. Although to its excess it is spreading towards 110 nations. Also, this has infected almost a great number of people. 

Although, according to the associated press. The disease has a great effect on countries like the United Arab Emirates, Saudi Arabia, Bahrain, and Oman. Yet, all these have a great number of coronavirus cases. This is the time when the whole world is suffering from coronavirus while UAE is involved in other problems as well. Problems that include this virus, various conflicts, stress, economic crisis, as well as the political unrest.

COVID-19 keeps on affecting markets including all the national as well as the global economies. But, the Gulf economies were already coming at the lowest points before the spread of the coronavirus. The economy of Saudi Arabia and the United Arab Emirates both have marked shortcomings. 

On account of the UAE, the Purchasing Managers Index (PMI), presents a great amount of prevailing direction towards the economic trends. The assembling and administration sectors fell 50 marks because a sign of contraction is present in those areas.

Additionally, combining that with a 6% year-on-year drop in the prices of real estate. These led down the value of the Dubai private sector and the real-estate sector. The real-estate sector has slowed down the development within three years. Besides, the development of the decrease rate of the economy is a marker of concern.

Hope for the economy in the UAE 2020:

The only hope for the development, for the Emirates, is Expo 2020. The exhibition is going to get scheduled and launch in October of the existing year. Likewise, this would run through to April 2021. 

With the cancellation of the event, which is a very low possibility, this would have a major negative effect on Dubai and its economy. Whereas, the expo 2020 was expecting to help the country to progress. Besides, it would also help those who are experiencing the difficulties of a disturbed economy. 

The committee counsel that was going to lead by Sultan Saeed Al Mansouri, Minister of Economy, incorporates agents from different competent bodies. Besides the fact that it is the fundamental part of the government. The preventive measures to deal with the aftereffects of the spread of the COVID-19 virus on the economy. The fundamental measures to help the national economy and to promote its different activities. 

Following the Cabinet’s approval of a Dh16 billion to boost the economic package of activities. To help and manage the organizations and give an extra impetus to the national economy. Besides that completing the existing economic packages that are going to get declared by the Abu Dhabi government, Dubai and the Central Bank, totaling Dh126.5 billion.

What are the Precautionary Measures:

The Committee will propose precautionary measures to lessen the negative consequences of the COVID-19. The coronavirus has a great impact on the nation’s human resources and economic sector. Every year UAE draws in more than 17 million visitors, Damak stated, but this year it plans to pull in 25 million visitors to Expo 2020 Dubai in October. 

Saudi Arabia gets 20 million visitors every year, the more significant part of the visitors for religious purposes. However, the kingdom has temporarily suspended the entry to the country. Further the visitors coming with the purpose of performing Umrah and visiting the Prophet’s Mosque. However, it is an essential place for Muslims to visit.

Damak said, at this stage, it is challenging to tell if Expo 2020 can be arranged or not. Yet, this might affect the pilgrimage season which usually starts in July. Further, this will be affecting the viral infection spread worldwide and would outbreak. In addition, if this would be the situation, then the economic impact on both Saudi Arabia and the UAE would be higher than what we currently expect.

According to the following article:

https://middle-east-online.com/en/uae-support-economy-coronavirus-impact

This virus outbreaks and has begun to hit the vital sectors of the UAE economy. Presenting it with the example, tourism, and aviation. Abu Dhabi, the capital of the United Arab Emirates, allocated 1 billion Durhams ($272.27 million) to establish a reserve “to improve liquidity and maintain the balance and the market interest in stocks,” the Abu Dhabi Government Media Office stated on Twitter.

The nation’s stock markets have failed within two weeks, with Dubai’s main index tumbling about 30%. However, Abu Dhabi is sinking around 25% in a similar time frame, as the tumbling oil costs include further pressure on the Gulf economies. 

Abu Dhabi said it would assign some further 3 billion Durhams for a credit to ensure a plan for small and medium-sized enterprises (SMEs). To restore financing by local banks, while another 5 billion Durhams will go to sponsor utility bills. Several expenses were rejected or diminished, including the registrations of the real estate. The new businesses and tourism as well as sectors including hospitality.

Conclusion:

No one knew how long does corona-virus last, thus the government has decided to lock down everything for almost two weeks. Furthermore, within these two weeks, the stock market and economy rates of the UAE have decreased as well. Although everyone must follow the corona-virus precautions to stay safe and protected. 

The nation’s stock markets have failed within two weeks, with Dubai’s main index tumbling about 30%. Hopefully, this article has helped you. This article would let you know more about corona-virus and the impacts of the corona-virus in the UAE. That is why you should maintain social distance and stay safe.

What is Coronavirus and how to prevent this disease?

What is a Coronavirus:

However, this virus is considered to be the type of coronavirus. A coronavirus is a group of infections that can multiple illnesses that include, cold, severe acute respiratory syndrome (SARS) and the Middle East respiratory syndrome (MERS).

The new coronavirus is spreading from person to person among those who are in close contact. Through the respiratory droplets, it is spread, when somebody who is infected with coronavirus coughs or sneeze. It’s still not clear how contagious this virus can be.

Where did Coronavirus come from?

A virus that has been spread worldwide is called as the severe acute respiratory syndrome coronavirus 2 (SARS-CoV-2). Nowadays this disease has been recognized as the main cause of illness. However, this disease started in China in 2019. The infection is named coronavirus disease 2019 (COVID-19).

What can I do to avoid becoming ill?

World Health Organization and Centers for Disease Control suggest the following ways that should be made necessary to avoid COVID-19:

  1. You should avoid events and gatherings that are surrounded by many people.
  2. Try to avoid close contact and maintain a distance of about 6 feet with anyone having symptoms or feeling sick.
  3. Have distance between yourself and other people if COVID-19 is spreading in your community. Especially if you have a weak immune system or higher risk of serious illness.
  4. Wash your hands regularly with soap and water for almost 20 seconds, or use an alcohol-based hand sanitizer that contains about 60% of alcohol.
  5. You should cover your mouth and nose with your elbow or a tissue when you need to sneeze or cough. Discard the tissue that you have used.
  6. You must avoid touching your eyes, nose, and mouth if your hands aren’t clean or sanitized.
  7. Clean and sanitize surfaces you frequently use in your regular routine.

How can I avoid the risk of infection?

Here are a few precautionary measures you and your family can take to stay away from the disease: 

  • Wash your hands every time you touch any area that might have germs. 
  • Cover mouth and nose with tissue paper whenever you wanted to sneeze or cough. To discard utilized tissue right away after using it.
  • Maintain distance from close contact with any person who is having a cold or flu. 
  • Go to the hospital if you or your family member has a fever, as soon as possible.

How to wash your hands properly:

Step 1: Wet hands with running water 

Step 2: To cover wet hands applies enough soap.

Step 3: Wash all areas of your hands including the back of hands, in between the fingers and under the nails for almost 20 seconds. 

Step 4: Rinse your hands completely with running water.

Step 5: At the end dry your hands with a clean towel

Wash your hands frequently, before eating; after cleaning out your nose, sneezing, or coughing; and before going to the bathroom.

If soap and water are not available at the moment, utilize an alcohol-based hand sanitizer with 60% of alcohol. Continuously wash your hands with soap and water, if you notice any dirt on your hands.

Should I wear a medical mask?

Prefer wearing a medical mask is advised if you are having a weak immune system or have respiratory symptoms. This includes both(coughing or sneezing) to protect others from getting it. 

If you are not having any kind of symptoms, you are free and then there is no need for you to wear a mask.

If you are wearing masks, then you must know that these masks should be disposed of properly to ensure the safety of others. Disposing of the masks would lessen the fear of reusing it and to avoid the risk of transmitting the virus into others. 

Not only wearing masks are enough to stop infections from spreading and must involve frequent hand washing as well as covering sneezes and coughs, and avoiding close contact with anyone who is having the symptoms of a cold or the flu.

Does coronavirus affect infants?

Although we don’t know much about this virus, how it influences kids or pregnant ladies. However, it is possible for people of all ages to be contaminated with the infection. But there are not many instances that indicate that COVID-19 is infected among kids. 

The infection is dangerous and causes death in various cases. Therefore, it is necessary for every person to take care of themselves.

What if I have the symptoms of COVID-19?

Go to the hospital for the checkup, but do remember that it is flu season in the Northern Hemisphere. Further, the symptoms of COVID-19, including, cough or fever that can be like this season’s cold virus, or can be basic cold.

Keep on following good hand and respiratory hygiene and keep on maintaining the habit of washing. And keep yourself and your children up to date with the latest vaccinations. These vaccinations will save your children from getting the virus and different microscopic organisms that might cause sicknesses. 

What to do if we travel?

If you are planning a trip abroad, you check the travel and tourism advisory for the desired country you want to visit and consider any limitations on the entry, what are the quarantine requirements on the entry, any other travel advice you need to know before traveling. 

Before you travel towards another country and get isolated due to the viruses spread all over you should check the most recent COVID-19 precautions and updates on the International Air Transport Association site. This will help you get to know more about the conditions of nations and what are the precautionary measures.

Clean your seat, armrest, touchscreen, and so on with a sterilizing wipe once you get inside an airplane or another vehicle. Additionally, utilize a sanitizing wipe to clean key surfaces, door handles remote controls.

If a family member has symptoms?

You look for medical care as soon as possible if you or your youngster has a fever. Consider calling your health care provider if you have made a trip to an area where COVID-19 has been viral, or if you have been in close contact with somebody who has gone from one of these areas and has respiratory symptoms.

Conclusion:

Coronavirus is a serious disease that is spreading all over the globe covering almost everyone. The virus can be controlled with special care and self-isolation. In order to save yourself from the virus, you must follow a few healthy habits and isolate yourself so that you won’t get the disease. The proper way of washing your hands and avoid unhealthy activities would probably save you from getting this virus.

The Coronavirus in the United Arab Emirates in 2020

The coronavirus, which is declared as a pandemic by the World Health Organization. The United Arab Emirates on Saturday announced that they will stop all entry visas for all the visitors. This banning of visitors is to lessen the risk of the novel coronavirus from spreading.

An announcement made by the Federal Authority For Identity and Citizenship said that the basic point of this decision was to control the people to their homes and carefully avoid going out. But, with the spread of the coronavirus, many people were dying. These decisions were made for the protection of the people until a proper coronavirus vaccine is fortunately discovered.

The authority includes that the decision made will implement effectively until the countries enact a medical screening test for the travelers as a safety measure. All the events planned occasions by various hotels, and all the entertainment places in Dubai have dropped as the pandemic keeps on haunting governments around the world.

The novel coronavirus has caused an excess of deaths and also affected half of the world. It has spread from the wet markets of Wuhan, China, where it began. This disease has affected many people in almost 100 nations too.

Dubai Expo 2020 expected to get delayed for almost a year. Besides, until the coordinators and organizers of the event agreed to allow global tourism. Further, the business industries to get recover from the outbreak of the coronavirus. 

At a virtual meeting, this decision is made confirmed at the 2020 Expo steering committee, representing UAE officials, and other foreign countries that were set to present the idea to postpone the expo. The organizers agree to investigate with the BIE and the World Expo governing body, with the chance of a one-year postponement of the opening of Expo 2020. 

The UAE has passed another law, to guarantee there is enough supply of the food in the country. However, at any emergency, we might not get low with the food supplies. The law expects retailers to permit observing of their inventories. Vendors who store the food supplies or don’t follow the laws will get punished.

President Sheik Khalifa affirmed Federal Law No. 3 of 2020 to manage the food supply in the nation. Every single enrolled vendor, including retailers, needs following the law. Further, those who try to neglect the law and avoid the rules made by the government will bring about immense fines and prison terms.

The Ministry of Economy will enforce the law and work with the National Emergency Crisis and Disasters Management Authority (NCEMA). To make sure the inventory of the food satisfies the need for food in case of emergencies. The retailers will distribute the food stock as coordinated by the NCEMA if there arises an emergency. The law expects retailers to strictly follow the guidelines governing the area and the standards of the storage.

The persons who neglect the laws will get hit with a heavy fine between Dh500,000 and Dh2 million. Retailers should likewise authorize online monitoring of the supplies, food stock, and the storage capacity conditions.

However, on the NCEMA’s order, the retailers who don’t open their warehouses for food will be charged fine between Dh1 million and Dh5 million and can be imprisoned. Further, if they try repeating the offenses, punishments will be doubled. Both the government and people stand side by side with countries in this hour of need.

According to the following article:

https://www.al-monitor.com/pulse/originals/2020/03/uae-iran-medical-aid-coronavirus-outbreak.html

The two airplanes, which took off from Abu Dhabi on March 16, were carrying 32 tons of medical supplies and the necessary equipment. The necessary equipment including a great set of gloves, surgical masks, and other defensive equipment, as indicated by the UAE Foreign Ministry.

These flights are the second such humanitarian aid delivery from the UAE to Iran. Further, with the World Health Organization (WHO), the UAE sent an airplane conveying 7.5 huge amounts of medical supplies, including five WHO specialists.

UAE imposes new fines:

The people who ignore the quarantine rules and fines there are more rules made by the government:

  1. Leaving the house for no reasons will be fined 2,000 AED ($544)
  2. A driver who is having more than three people in one car will be fined 1,000 AED ($272)
  3. Not adhering to social distancing practices 1,000 AED ($272) 
  4. Not wearing a face mask in closed spaces will be fined 1,000 AED ($272)
  5. Refusing to get retested and self-quarantine 50,000 AED ($13,612) 
  6. Not abiding by the hospital stay or refusing a treatment plan 50,000 AED ($13,612) 
  7. Refusing to be tested for coronavirus 5,000 AED ($1,361) 
  8. Refusing to be tested for coronavirus 5,000 AED ($1,361) 
  9. Malls, shopping centers, gyms, public beaches, swimming pools, electronic gaming centers, bars, lounges, that refuse to close 50,000 AED ($13,612) 
  10. Visitors of mentioned foundations 500 AED ($136)
  11. Partaking in any public gatherings, conferences, or parties 5,000 AED ($1,361)
  12. Organizers of public gatherings 10,000 AED ($2,723) 

Furthermore, WORLD HEALTH ORGANIZATION advised:

It is important for the government to remind populations and health workers of the basic safety precautions. To reduce the general risk of spreading of the coronavirus by following a few simple measures mentioned below:

  • Try avoiding close contact with people who are suffering from coronavirus.
  • Frequently wash your hands. Especially after direct contact with ill people or after touching dirty surfaces.
  • Avoiding contact with the farm or wild animals
  • People who are suffering the symptoms of the coronavirus disease should practice cough etiquette. (Maintain distance, cover coughs with elbows and sneezes with disposable tissues or clothing, and wash hands.)
  • The healthcare facilities enhance the standard infection prevention and control the practices in hospitals, especially in emergency departments.

Conclusion:

To prevent coronavirus transmission, the UAE has introduced many safety measures. These safety guidelines to ensure the safety from the viral infection. The coronavirus in humans is spreading in a great amount that is why everyone must secure themselves and stay at home. Postponing of the expo will decrease the effect of the disease too. Hopefully, these preventions might help you get through this coronavirus disease.

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