The impact on the transportation industry

Sample Solution

The impact on the transportation industry The effects of COVID-19 are being felt across the transportation sector. The pressure on organizations during this coronavirus pandemic has shifted from moving citizens to keeping a core transportation system operational with a skeleton workforce to ensure freight and key essential workers can continue to move. A secondary effect of this shift is the sudden change in sources of revenue for transportation operators, with many experiencing an unexpected shortfall in their finances. COVID-19 not only affected passenger travel, but also, the shipping and movement of goods. Throughout the pandemic, consumer demands changed dramatically.

We live in a self-regulating world. Countries are influenced by the economic health of other countries and by their governments’ policies. Problems in one part of the world can spread to other parts of the world. There many major issues in which the development of globalisation affects individual economies to begin with they can affect economies through financial markets and secondly they can also affect the economy through trade. Over many years countries have established communication progressively. In recent times, the speed of global integration has considerably improved. There have been enhanced changes in communications, transportation, and computer technology have given the process new movement and made the world more interdependent than ever. Multinational corporations produce goods in many countries and sell to customers around the world. Money, technology and raw materials move ever more swiftly across national borders. Along with products and finances, ideas and cultures circulate more freely. As a result, laws, economies, and social movements are structuring at the international level.

Advantages of globalisation

There are many advantages when considering globalisation its has increased trade between nations which is a benefit because it means there is an increased level of liquidity of capital this allows investors from poorer parts of the world (developing countries) to invest in those countries which are well established and further developed. Globalisation means that there is increased flexibility for large corporations to operate across borders without restrictions. Another positive impact of globalisation is that the flow of communication between nations and corporations increase and vital information can be transferred more effectively and quickly.

Technology

With technology now getting more and more advanced it has been easier to communicate with anyone at any time. In recent times global news providers such as BBC Sky and CNN have expanded systems built around the 24 hour clock, with the news room moving between continents as the sun and daylight move around the world; this permits individuals to have 24 hour access to the news. The continuous nature of ha