- ECONOMIC IMPACT -
Last Updated May 2022
United States: Flight services between St. Louis, Missouri, United States and Toronto, Canada resumed on May 7, 2022, after a two-year break in services amid COVID-19.
US officials have lifted the COVID-19-related federal requirement to wear a facemask in airports, planes, and other public transportation. Multiple airlines and public transit organisations across the country also lifted the mandatory mask wearing requirement.
All international travellers arriving in the US through land ports and ferry terminals must be fully vaccinated. Unlike visitors flying into the country, these travellers will not need to show a negative COVID-19 test to enter the country.
On April 18, 2022, the US Centers for Disease Control and Prevention (CDC) removed all 89 countries from its ‘Do Not Travel’ list.
China: Henan Province has tightened its COVID-19-related restrictions in Zhengzhou. Most businesses are required to close, though officials will excuse pharmacies and supermarkets from the measure. Dine-in services will be banned at restaurants and only deliveries are allowed. Families in the city centre may agree on one member of the household to buy goods per day.
Officials have restricted movement of nonessential vehicles in the city. Heilongjiang Province has imposed tighter curbs in Harbin's main urban areas. The affected locations include Daoli, Daowai, Nangang, Pingfang, Songshan North, and Xiangfang districts. Authorities have tightened COVID-19 curbs in Jinhua, Zhejiang Province.
Officials have designated parts of Jinhua as closed areas with stricter curbs. The affected areas include Honglu, Lianfeng, Loujia, Wangludang, and Zezhu villages in Bailongqiao Town, where stay-home orders have been enforced.
The UK: From June 1, 2022, citizens of Saudi Arabia and Bahrain will be able to travel to the UK for tourism, business, study, or medical treatment for up to six months with an electronic visa waiver.
UK government removed all COVID-19 travel restrictions from Mar 18 onwards. No passengers will be required to take test or complete a passenger locator form. Travelers from UK to Greece will no longer be subject to Passenger Locator Form (PLF) requirements.
UK citizens has been advised not to travel to Russia due to lack of flights and economic problems.
Japan: The Japanese government lifted mandatory mask-wearing requirements in outdoor places, but people must maintain the appropriate social distance.
Japan will increase the entry cap for international travel from 10,000 to 20,000 people from June 2022. The Japanese government eased travel advisories for 106 nations and territories on April 1, 2022, by cutting the number of destinations designated with a Level 3 warning from 162 to 56. The 106 nations and regions have been moved to a Level 2 warning, which advises against non-essential travel.
Japan will raise its daily limit on arrivals from overseas to around 10,000 travellers from April 10, 2022, up from the current 7,000 arrivals.
IMF has revised its 2020 global GDP forecast to -4.4% from an estimate of -4.9% made in June.
The global economy is estimated to contract by 4.2% in 2020 and bounce back by 5.3% in 2021.
G7 economies forecast to witness varying GDP growth in Q2 2022
Major economies have staged imbalanced quarterly growth in 2021. The global economy will continue its recovery in 2022, but the Russia-Ukraine conflict is expected to tip the fragile global economy into a slowdown.
- SECTOR IMPACT: Finance -
Last Updated May 2022
Clinical trial market impact
Trial disruption is leveling off and disrupted trials saw a small dip, with 1,032 trials still disrupted and 579 pharma/biotech companies and contract research organisations associated with disrupted clinical trials.
There are currently 3,414 clinical trials underway for Covid-19, including 172 multinational trialsroboto slab and 2,818 single-country trials.
Revealed: The wealth management & private banking companies leading the way in Covid-19
Morgan Stanley and DBS are among the companies best positioned to take advantage of future Covid-19 disruption in the wealth management & private banking industry, our analysis shows.
The assessment comes from GlobalData’s Thematic Research ecosystem, which ranks companies on a scale of one to five based on their likelihood to tackle challenges like Covid-19 and emerge as long-term winners of the wealth management & private banking sector.
According to our analysis, Morgan Stanley is the company best positioned to benefit from investments in Covid-19, the only company with a score of five out of five in GlobalData’s Wealth Management Thematic Scorecard.
The table below shows how GlobalData analysts scored the biggest companies in the wealth management & private banking industry on their Covid-19 performance.