The Australian economy is one of the highly developed economies across the globe. As per the Australian Bureau of Statistics, its GDP was around $1.15 trillion in 2019 however, the Australian economy faces a mounting burden due to COVID-19. The country has recorded around 5,800 confirmed cases with around 40 fatalities in total by the end of the first week of April 2020.

Get Sample Copy of Impact of COVID-19 on Australia Economy Market at: https://www.omrglobal.com/request-sample/impact-of-covid-19-on-australia-economy

Key companies operating in Australia whose business operations are affected due to COVID-19 include Wesfarmers Ltd., Woolworths Group, Coca-Cola Amatil Ltd., GrainCorp Ltd., Diamond Energy, Qantas Airways Ltd., Virgin Australia Airlines Pty. Ltd., BHP Group, Rio Tinto, BP PLC among many others.

As preventive measures and to support the economy, the government of Australia has made several efforts ranging from supporting the healthcare infrastructure to the jobs of the peoples in the country. Several health councils and organizations have come together to develop the treatment for COVID-19 and to combat the disease. The National Health and Medical Research Council (NHMRC) is supporting the national as well as international efforts, including NHMRC funded experts, to address the COVID-19 pandemic and its consequences.

The Australian government took several steps to maintain stability during the pandemic. To prevent and stop the spread of the virus, the government announced to reduce public gatherings to a maximum of two people. Evictions are on hold for 6 months by the states and territories. Landlords and renters are encouraged to talk about short term agreements. Further, the government has introduced a Jobs Hub website that enables peoples to find work during the pandemic. The Jobs Hub also advertises the vacancies designed by various businesses across Australia. The government has also announced to launch Early Childhood Education and Care Relief Packages that give families fee relief while supporting child care services.

For More Information, gets A full report of Impact of COVID-19 on Australia Economy Market is available at: https://www.omrglobal.com/industry-reports/impact-of-covid-19-on-australia-economy

Based on industry classification, the impact of COVID-19 pandemic on Australia's economy is studied into energy, healthcare, retail & e-commerce, agribusiness & food, aviation, manufacturing, travel & tourism, and others. After the huge number of cases in the country, a brake on the economic activities has been witnessed. Most affected sectors in the country due to corona virus include aviation, travel & tourism, construction, and other temporary work sectors as numerous companies suspended their operations since March 2020.

Several companies have closed their manufacturing units and stores to stop the spread of the virus. For instance, Radio Rentals closed its all 62 stores nationally until further notice to stop the spread of COVID-19. Thorn Group, Radio Rentals' parent company, closed its stores to increase focuses on protecting the health, safety, and welfare of customers, and team members.

Verticals Affected Most

• Energy
• Healthcare
• Retail & E-commerce
• Agribusiness and Food
• Aviation
• Manufacturing
• Travel and Tourism
• Others (Construction, Electronics)

For more customized data, request for report customization @ https://www.omrglobal.com/report-customization/impact-of-covid-19-on-australia-economy

About Orion Market Research

Orion Market Research (OMR) is a market research and consulting company known for its crisp and concise reports. The company is equipped with an experienced team of analysts and consultants. OMR offers quality syndicated research reports, customized research reports, consulting and other research-based services.

For More Information, Visit https://www.omrglobal.com/
Media Contact:

Company Name: Orion Market Research
Contact Person: Mr. Anurag Tiwari
Email: [email protected]
Contact no: +91 7803040404