The COVID-19 pandemic has drastically changed the way many conduct their daily lives. Every area of our social, professional and personal lives has felt its impact. The virus that first spread in the Hubei province, Wuhan city of China has been spread almost globally. In such situations, one can expect the hair transplant cost to take a deep hit in the coming months. However, this means that those who’re seeking a transplant surgery can get one for affordable prices. Except for the sanitation and cleaning industries, not many other businesses have been able to draw crowds. This means cheaply priced goods in many other industries.
The medical facilities of many countries are under a lot of stress because of this virus’ spread. But the governments and international organizations are all working towards providing financial aid to those who need help. With more than 2.5 million cases and almost 180,000 deaths globally at the time of writing, new cases are coming up each day. But the mortality rate of this virus is quite low. More than 700,000 people have successfully recovered from it so far. For now, to stay safe, those who are immunocompromised need to take extra precautions.
Everyone is vulnerable to catching this virus, which is why the movement has been restricted. Many people are staying at home. But things are looking to get better with time. A few days ago, Germany announced that it has “stemmed” the coronavirus. This means things will get normal sooner rather than later.
How Coronavirus has changed the World?
From isolation at home, staying away from crowds, closure of restaurants, plunge in stock markets, and anxiety over prevailing uncertainties, there’s not much that can be done. But vigorous efforts are underway to develop a vaccine for this novel coronavirus. It will impact the economy, but it does mean that many people will be able to afford previously unattainable commodities.
These days many alterations have taken place in our social setup. The idea of social distancing has gained traction as a means of protection. Moreover, many fear to touch the hands or faces of each other. There is even a danger in breathing the same air as others. We now wash our hands for no less than 20 seconds trying to get rid of dirt in every nook and cranny. Taking precautions is the best we can do right now. However, fear won’t help anyone. Many news media outlets exaggerate facts to present a story. But we need to know the ground reality to not be unnecessarily anxious.
Panic buying has emptied store shelves of toilet papers, face masks, gloves, hand sanitizers, many cleaning and food products. Many believe that the novel coronavirus can cause an economic recession, just like the 2008 financial crisis.
That’s not it. Many countries have imposed strict lockdowns such as USA, Italy, UK, France, and Spain. Travel bans are also in place. While the schools, universities, religious sites, and cinemas have all been shut down. The slowdown has started, and small businesses are struggling to survive.
These measures should not convey a grim reality. All these steps will make sure that we stop the spread of this virus as soon as possible. This situation is temporary and will definitely not last too long considering the efforts we’re witnessing from everyone.
What will be the Impact of Coronavirus on Global Economy?
So far, everyone expects the situation to be similar to the 2008 economic downturn. However, there are no reliable GDP forecasts available because no one is sure how the situation of COVID-19 will unfold. The governments’ response will matter quite a lot in this regard. Bloomberg expects the worst-case scenario to cost a total of $2.7 trillion in losses for the global economy. The secretary-general of OECD (Organisation for Economic Co-operation and Development), Angel Gurría, has warned that global growth will be halved to 1.5%. According to him, the virus will take years for the world to recover. However, no one knows for sure if this is what will happen. So, you don’t need to get worried.
At the beginning of the year, Moody Analytics reported a 2.6% global growth in GDP. However, now they say that it’ll fall by 0.4%. Chinese economy alone went down by 10% of GDP in their first quarter. China is a significant player in the supply and demand chain. With countries on a lockdown, demand for many products will decrease and hence, the supply. Even oil prices have decreased. In such a scenario, those who are looking to become medical tourists can also expect low prices for procedures.
The government of China is taking many steps to protect those households which are more vulnerable. This also includes help for smaller businesses. They have waived social security fees, utility bills and channelled credit through fintech companies. However, things seem to be getting better in China. Only one patient of this infection has come to the fore in the last five days. While no new case has come up in the Wuhan area, where the virus’ spread began.
Moreover, many countries have turned to the IMF (International Monetary Fund) to help them financially. There has been a lowering of interest rates by banks of many countries. Both public and private economies of countries are suffering. But this situation will definitely not last, and things will get better with time. As we can see, China is already on its road to recovery with businesses starting up again. It has taken a few months, but things are getting normal again.
What Will Become of Hair Transplant Costs Because of Coronavirus?
For now, the travel industry is also experiencing losses because of this disease. Fear of crowds and infection has led to the cancellation of flights. Many car ride services and public transportation has stopped. These can only be taken for essential travel in some places. The more we stay at home, the better it is for us and everyone else.
However, this means that the hair transplant cost will decrease. Many businesses are putting up sales to compensate for the losses incurred. It is a tough time and companies are looking for ways to get out of this quagmire.
Many people choose medical tourism when it comes to getting a hair transplant or any other cosmetic procedure. Countries that offer this are far cheaper, which is why people from around the globe travel to them. But this has come to a halt considering that it is impossible to travel to many countries these days. This is why flight tickets have become so cheap. As the demand decreases so does the price.
Using the same principle, you can expect lower hair transplant costs. So, if you have been planning to get one, then you can book yourself a package. For many, transplantation surgery seems like an expensive choice. They suffer psychologically while experiencing hair loss. This certainly shouldn’t be the case. Medical tourism has given many the choice to regrow a full set of hair.
When the travel bans are removed, one can expect a very low hair transplant cost. This means, no one has to delay getting their surgery anymore. For those, who thought they could never get surgery because of budgetary constraints can definitely find a suitable package for themselves.
There’s one thing to keep in mind, though. Everything will be working on the basis of demand and supply. It is then a possibility then as the travel bans are removed, demand for hair transplant might increase. This means higher costs. To avoid this, you should keep an eye on the websites of clinics and make a booking as soon as you find yourself a good package.
What Has Been Turkey’s Response to COVID-19 disease?
So far, there are almost 100,000 cases of the novel coronavirus with fewer than 2500 deaths occurred in the Republic of Turkey at the time of writing this. Schools, bars and clubs have been shut down here. Other than that, opening and closing times of grocery stores have been demarcated.
Restrictive measures have also been taken for hotels, restaurants, dormitories and nursing homes. A $15 billion fiscal package was also announced by Recep Tayyip Erdoğan to prevent a financial meltdown. As the older generation is at a greater risk of catching this virus, the government also distributed masks and colognes to citizens over the age of 65. The country is also working on a vaccine for this virus. Curfews are imposed for the last two weekends.
Medical tourism is an important sector of Turkey’s economy. They are doing everything to curb the spread of this virus so the tourists can get back for their desired surgeries. For the consumer, it’ll mean even more affordable hair transplant cost in Turkey.
Although there are no certain forecasts on what will happen when this pandemic passes away, one can highly expect the outbreak to affect industries negatively. It already is. However, there’s a lot of panic and misinformation surrounding the topic. This has led to trends such as panic buying and hoarding. The important thing is that everyone should take all the precautionary measures to stop the spread of this virus. The sooner we recover, the lesser it will be able to harm us.
As far as the costs of various commodities are concerned, they will definitely fall. This includes hair transplant cost. To highlight the appeal of medical tourism, many clinics can offer even lower prices than before. So those who’ve been planning to regrow their hair, they can find the most suitable hair transplant cost.