One of the commitments New Orleans has tried to provide for its residents is objective societal development which is not biased in any way. We do this to aid in informing public policy and to make sure that stakeholders, job candidates, businesses are equipped with the best information, which makes sure that New Orleans becomes one of the most attractive cities for its capital and financial investment.
Covid 19 has brought down this fierce urgency of this commitment.
To talk more about the present crises faced economically and to show how we could fight its effects, the new Orleans business alliance is piloting a brand new dashboard which is usually updated as the months roll by. This is focused on the growth of data and industry. There are also food services, gas, oil extraction, quarrying, mining, wholesale trade, rental, real estate, leasing, and technical services.
The impact that is outlined from the dashboard is gotten from the recent Deloitte report. This points to an eight-point three percent dip in the Gross Domestic Product for the year 2020. This also flows well with the opportunity insights Economic Tracker that highlights drastic reductions from consumer spending. Navigating out of this recession is an essential focus on the entire economy. The analysis used here would acquire high gains strategically. You are watching the global economy shifting and arranging itself because of the pandemic.
Looking at the Revenue which has been Lost because of Covid 19 pandemic
We are still looking at how the pandemic would impact New Orleans and how the projected revenue has been disrupted. At first, we forecasted a loss of revenue which was based on the report from Deloitte. We all know that this number is known as conservative data from the BEA. The Bureau of Economic Analysis mentioned a thirty-two points nine percent decrease in the gross domestic product at the ending of the second quarter. Looking at the national scale, there has been a very high movement. We are looking at the BEA. The actual gross domestic product has increased to an annual rate of thirty-three points one percent in the third quarter. Some efforts are going to try and reopen several businesses. These are all important because activities need to resume.
So many things stopped working when the pandemic came. These things need to either reopen or resume so the commitment new Orleans has to its residents would continue without any mistakes.
My thoughts on How COVID-19 Impacted Communities in New Orleans
Well, just like the rest of the world, New Orleans got hit by the pandemic. And it got hit badly. The communities in New Orleans couldn’t say a thing when everywhere got locked down. Everyone was thrown back to their homes. No one had the freedom anymore to hustle and to make money. It was a trying time, but luckily, vaccines are being shared in several countries. Soon it would be available and affordable worldwide. Here’s to hoping for peace.