COVID-19 Injury Lawyers

Best and Worst Economies Post-COVID

Posted July 29, 2022

When the Coronavirus first emerged in 2020, the world was filled with uncertainty. People were put into lockdowns, laid off from work, products became hard to find, and prices rose on items people needed to live. People with a once stable life plan weren’t sure what to do next, finding themselves uprooted from the world they once knew. Economies ran into the same issue, not sure how to quickly adapt to this new world and survive during the trying times. All came up with plans, but only some came out truly successful. The best and worst economies following COVID-19 were products of small and large decisions, all coming together to create the future of countries around the world. 

How The Best Economies Made It To The Top

What are the plans that kept these economies afloat? First and foremost, they made plans knowing the virus would never disappear. While it wasn’t hard to believe that the vaccination would improve conditions, waiting on COVID-19 to disappear afterward was unrealistic.

Countries that vaccinated as many as they could once vaccines and boosters were developed, were able to resume normal life much sooner. Because of this, their economies were the most successful as well. This began to put their economies back on track but was not the only factor involved. 

The top 10 countries with the best economies post-COVID as of June 2022 based on these factors and many others, according to Bloomberg, are:

  • South Korea
  • United Arab Emirates
  • Ireland
  • Norway
  • Saudi Arabia 
  • Denmark
  • Canada
  • Netherlands
  • Australia 
  • Turkey

The Downfall Of The Worst Economies Post-COVID

One major reason certain countries and their economies failed was the refusal to adapt. When one plan is made, it is understandable to want to stick with that plan. But this desire wasn’t much help as everyone was living through a pandemic no one had faced before, and the countries that lived in denial were the ones who failed the greatest. 

A perfect example of this is how Australia and Singapore changed their ways. These two countries began the pandemic as Zero-COVID locations, places that attempted to keep out the Coronavirus with strict mandates. When shutting everything down didn’t work, these two areas made the difficult decision to reopen their borders to get what they needed after assessing the different risks.

Although it may have seemed like a step backward when looking at the fact that they were allowing more COVID-19 cases to happen, it wasn’t. Removing certain restrictions saved their economy and the lives of people in other ways, landing Australia at 9th and Singapore at 14th on the economy ranking list. 

Were You Affected By COVID-19?

Everyone and everywhere was affected by the Coronavirus, the economies following COVID-19 were only one measurable aspect. If you feel you were affected and aren’t sure what your rights are regarding the issue, contact COVID-19 Injury Lawyers for the answers you deserve.

Posted in COVID-19.