10 tech companies donate over $1.4bn to fight coronavirus

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Data gathered by Learnbonds.com indicates leading tech companies have donated at least $1.4bn towards mitigating the coronavirus. The donations are from ten companies with a majority based in the United States.

From the data, Google has donated about $800m to businesses and healthcare workers while Cisco has pledged $225m towards the course. Social networking platform Facebook has donated $120m while the Dell Foundation has pledged $100m with Netflix availing $115m in relief fund.

Other companies that have donated towards the course include Amazon ($32m), Samsung ($29m), Apple ($15m), Microsoft ($1m) and Twitter ($1m).

The COVID-19 pandemic has hit the global economy hard stocks dropping to their all-time lows in history. However, 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 2020. For example, China will be the biggest loser. This year the country’s tourism and travel revenue will be $70.5bn which is a drop of over 40% compared to 2019’s $117.8bn.

The US revenues will drop by about $15.6bn followed by Italy at $4.8bn in revenue.

On the other hand, Germany will lose $3.18bn. Based on these projections the four countries will lose about $70.88bn in revenue as a result of the pandemic.

The sector has been the most impacted because, 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.

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