By Omobayo Azeez
Global technology giant, Google Incorporated, is leading nine other global tech companies in funds donations to sustain ongoing fight against Coronavirus pandemic in the world (COVID-19).
Data gathered Data by Learnbonds indicate leading tech companies have collectively donated at least $1.4 billion towards mitigating the coronavirus, with a majority of the companies based in the United States.
From the data, Google has so far donated about $800 million to businesses and healthcare workers as well as training of information experts to mitigate against fake news during the period while Cisco followed distantly as it pledged $225 million towards the course.
Social networking platform Facebook has donated $120 million while the Dell Foundation has pledged $100 million with Netflix availing $115 million in relief fund.
Other companies that have donated towards the course include Amazon with $32 million; Samsung with $29 million, while Apple, Microsoft and Twitter have committed $15 million, $1 million and $1 million, to the course respectively.
The report further stated that while the COVID-19 pandemic has hit the global economy hard, bringing stocks down to their all-time lows in history, 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 2019’s. 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 per cent compared to 2019’s $117.8 billion.
“The US revenues will drop by about $15.6 billion followed by Italy at $4.8 billion in revenue.
“On the other hand, Germany will 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 report stated.
The explanation given for the sector as the most impacted is that, 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,” according to the report.
Frontpage September 10, 2018