From the point of view of someone who has seen and experienced the effects of COVID-19 on businesses as a business operator herself, here are suggestions to help rebuild the country’s economy post-pandemic. Food for thought for planners out there looking for practical ideas to rebuild the economy after CoViD-19.
The sudden outburst of Covid-19 Pandemic has eminently come upon us, took hold of our lives to seize or restrain our motion. It reached us with a blow or hit us in a particular spot of our day-to-day routines.
The Pandemic has affected the economic system of the entire world that we all live in. All small-scale and large businesses alike have a series of excruciating struggles in a diminishing business world.
A massive layoff has skyrocketed, and surmountable company closures have emerged as a result. We have been tremendously affected by the new situation we are catapulted to and the “new normal” hurled in society.
We, human beings, are resilient than any calamity, and trials that life may throw us. We are tougher than a Covid-19 pandemic. Thus, all hand in hand, let’s rebuild our society, our world, and our lives. Let’s do it.
How To Rebuild the Economy After Covid-19 Pandemic
1. Promote Tourism
An increase in ecotourism activities contributes to the ample growth and prosperity of a nation’s structural conditions of economic life. To become progressively appreciable as in size, amount, number, or intensity and multiply by the production of new travel destinations.
Focus more on how to build more and more on the enormous natural wonders constituting a classification based on features existing in nature—that your country has been blessed and showcases all of these—to assist with something that is necessarily useful in achieving a result.
For example, a city developed at the riverfront to encourage its tourism can help a lot.
2. Hire Pragmatic Scientists
Hire brainy scientists and employ the services of expert consultants to rebuild the economy. Their mastery of particular subjects can make your country move forward. Shun away from the current people you have had if your nation is not moving at all.
Instead, employ ultrasmart scientists and economic specialists who ultimately will boost the economy upon special skills, special knowledge, adequate planning, and execution. Align and keep pace, moving with the times. Innovate more.
3. Create a Coherent Form and Organization
Have a structured economic life in your area of country or nation—a sound conceptual structure of ideas and methodologies, solutions and framework in our society, and a set of values of the variables that satisfy the equation. And a collection of valuable ideas on how to efficiently approach an issue or problem.
4. Engage the private Sector
Business tycoons and giant companies should help further the advancement of solutions and donate to a charitable cause in this pandemic. After all, ’twas the mass people and the locals with the few elites who insurmountably patronize your international products.
Likewise, ’twas them who vigorously contribute the influx of tons, of millions of income in your pockets, and bank accounts with recurrent interests derived from the capital. And lastly, ’twas them who unquestionably supply essentially to your development and sustenance, ’twas them who feed the table of your millions of employees worldwide.
5. Patronize Local Products
Promote the local arts and crafts and the abundance of fruit sources. Export more on this and benefit from the economic leap provided by more efficient local arts and crafts and the fruit industry. This approach will be extensively sufficient as a contributing factor to boosting the economy in the country.
The pandemic has altered our economic system. Uphold and support locals. Purchase products from the local businesses, local farmers, local agriculturists, local growers, from local stores, not the imported ones this pandemic times. So that the resources will not be depleted and permanently diminished, GO organic, GO local for sustainability purposes. Help rebuild the economy of your own country.
‘Twas due to the full protection, full recognition of the constitutional laws for the rice farmers that your family has been able to afford and enjoy the physical comfort of eating three (3) meals a day.
But if you keep purchasing imported rice and imported products— this will be the immediate downfall of the local rice farmers that will quickly diminish them from existence. That would, unfortunately, manifest in having no more rice for your kids, no more local products for the basic unit of your family’s sustainability.
Therefore, you have to buy costly imported rice and products, but this would eventually exhaust your budget for years to come. So GO local, GO organic.
6. Be Transparent
Transparency on the local and national budget and expenditures. Now is the time to refocus the country’s budget for the common good of all and not just for a few officials’ pockets. Well, thrifting is much kinder to the country’s wallet too! Further, do economize on national expenditures.
Pray humbly and pray without ceasing. As history unfolds over decades and decades, God is the only one who can help us all. God is the only way. There is no other way but Him alone.
Insights From Prosperous Countries to Rebuild the Economy
Go back to the most in-depth basics of nature and its course, the essentials of mother earth, to act locally and globally alike, an efficient industry action, and an active legislative for the common good of everyone.
Study and learn from the 5 most prosperous countries in the world. Denmark, along with its siblings Norway, Sweden, Finland, and Iceland has a huge landmass, coastline, and waters. These countries are blessed with natural resources, tourism, and their fishing industry like our country.
Further, the government pension fund produced by its Norwegian Petroleum income is deposited and invested. Norway comes on top for the freedom it provides to citizens, the quality of the healthcare system, the education, the social bond amongst its people, and environmental protection. New Zealand’s scores are high with their corporate governance, supply chain, agriculture, manufacturing, tourism, and the strength of social relationships.
I have had a wonderful conversation with a friend who shared how marvelous Israel is in its economic structure. It is one of the top 5 innovative countries and famous as a start-up nation (not France, Germany, or Japan). Their huge investments in modern research and development have created versatile technological advances necessarily useful for their innovation related to indoor farming, waste reduction, environmental consciousness, rich agriculture, and space travel.
Most of its success indicator is that they have God in their hearts. Israel is a country eminently protected and loved by the Sovereign God—the top reason why Israel prospers and flourishes historically in ancient times and beyond. And, it’s biblical.
Gil, A. The Geopolitical Challenges Facing Israels New Government. The Institute of Jewish People’s Policy. Retrieved December 28, 2021 from http://jppi.org.il/uploads/The_Geopolitical_Challenges_Facing_Israels_New_Government.pdf
McKenna, J. (2017, May 19). Tiny Israel is a tech titan. These 5 charts explain its startup success. Retrieved December 28, 2021 from https://www.weforum.org/agenda/2017/05/tiny-israel-is-a-tech-titan-these-5-charts-explain-its-startup-success/
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