The world is now facing a global crisis, the coronavirus (COVID-19) outbreak that affects all
segments of the world- one that is killing people, spreading human suffering, and upending
people’s lives. Dealing with the unexpected challenges caused by the COVID-19 pandemic has
taken a significant toll on people all across the world. Many countries have declared restrictive
measures, such as lockdown, or stay at home orders, to contain the pandemic at a local level.
The COVID-19 has a negative impact on world economies, the longer the virus spreads, the
more company performance and the economy will be impacted. Many companies and businesses
all over the world are suffered in a slowdown in economic activity, decrease production, losing
profit and in affected countries will likely have an impact on the production/operations and
profitability of global companies, particularly in manufacturing and also in raw materials used in
manufacturing. The coronavirus outbreaks suspending the travel restrictions or complete travel
ban on all forms, shutting down all airports in the country and that affects the global economy
because it can cause losing a lot of money. The COVID-19 spills over the business industry like
travel, hospitality, oil-dependent counties, import-dependent industries, and financial industries.
These spillovers of the industries have a negative big impact on the world economy, losing all
the opportunities and potential revenues.