The causes and effects of COVID-19 on the economy of Thailand

When the first coronavirus outbreak has occurred, little do we know that this virus will get significantly more critical and become a global crisis at this moment. It is clear to everyone's eyes that the COVID-19 pandemic causes a devastating public health disaster. Still, most of us are entirely unaware of those indirect effects brought by widespread COVID-19. Unfortunately, we are facing one right now, the instability of the economic system. The notable impacts are many services need to be closed, less purchasing power, and more severe income inequality. We are all amazed by how easy it is to get infected. Consequently, we do fewer social interactions, and that causes loads of closed-contact service to become inactive. Besides, the tourism industry dies because of the prevention of COVID-19. Restaurants, as well as hotels, has to be closed due to the idleness of the tourist. As mentioned in an earlier paragraph, a bunch of stores has closed during the pandemic. Hence, the available spots for work have been reduced, causing countless workers to become unemployed. Fewer money people made, fewer money people spend. Each individual has inadequate funds, resulting in a dramatic decrease in local purchasing power. Of course, not only us, a mere group of civilians, are suffering from that difficulty. The government also tried to solve the drop in purchasing power issues using a cash giveaway scheme, which did win the heart of the poor but miserably failed to appease those middle-class. At first glance, it seems to directly focus on the root of the problem by increasing people's funds. However, if we look at the whole picture, the money spent on buying goods are flowing to the bag of the owners of the big company. Those who currently have a lot of influence over the Thailand market are getting more income, while we aren't earning any long-term profit, only around 1500 baht which will wither sooner or later. In the final analysis, the current economic situation in Thailand is aggravated by COVID-19. The apparent changes are closed stores, lower local purchasing power, and uneven income distribution. It is worth noting that any effects made by COVID-19, whether it is a direct effect or not, should be taken seriously. It is hard to face it as an individual but much simpler when we decided to join force and handle it as a whole.