'With the increase in the number of COVID19 positive cases, most of the companies have downgraded their ad spending forecast by 692 billion in 2020. The reduction in amount is due to China because China is considered as the second ad market. Therefore the reduction in their ad market will affect the global figures.
Not only the marketing and advertising industries, but the lockdown of seaports, international travel, schools, factories, and other places to work are paying the heaving price for COVID19. If we talk about, 2002-2003 SARS pandemic world almost lost tens of billions and it had the worst impact on the world economy. By seeing the recent COVID19 pandemic, we can say that this time loss will be much larger and long-lasting.'
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