10 INDUSTRIES MOST AFFECTED DURING TS
RESTAURANT INDUSTRY
In this lockdown and even after that, the restaurant industry is going to be super affected. Main reason being the lack of guts or even permission to step out of the house. Nobody is going to risk going out and eating food. The safest thing to do right now is to have fresh home cooked food. Consuming anything from outside is deemed to be extremely risky. The estimated loss is around...$225 billion
HOTEL INDUSTRY
Due to this pandemic and lockdown, hotel industry has come to a standstill. There is no business happening at all. With people not leaving their houses and travel industry completely shut, hotels are not even expected to see the dawn of normalcy anytime soon. Things look dim and a lot of hotels all around the globe have already been shut forever. Such has been the effect of this lockdown on the hotel Industry.
TV AND FILM INDUSTRY
Now that all of us have been at home for over a month now, one thing that all of us must have realized, is the fact that none of the shows that are being shown on TV are freshly shot. All the shows are old and the episodes are being repeated. There are so many people working in the entertainment industry all around the world and the fact that all of them are out of jobs for now will raise a lot of concerns in the minds of a lot of people.
SPORTS INDUSTRY
No sporting events are taking place at all, all the football, cricketing, basketball etc events are cancelled till everything gets back to normal which by the way doesn’t seem to be possible anytime soon at least. So, everyone even remotely related to the sports industry is going through a very difficult time and will have to live like this for God knows how long. The estimated loss of the sports industry sector would be somewhere around...$600 billion
FITNESS INDUSTRY
One of the first things to get shut just before the lockdown were gyms and as gyms see a lot of people at the same time, social distancing is hardly possible there. So, it doesn’t really help to visit during such a pandemic. They will continue to remain close for long and the total loss is expected to be...$94 billion
CRUDE OIL INDUSTRY
With absolutely no major business taking place, the consumption of crude oil has seen a drastic low as well. With people forced to stay home because of corona, the demand for petrol and diesel has gone down giving a major blow to crude oil industry. The effects are already seen with the prices going in negative in USA for the first time in the history. Things are not looking good for this industry and the wait for things to get back to normal can be long and painful.
CONSTRUCTION INDUSTRY
People are facing difficulties in making ends meet with no work happening whatsoever. In this crunch situation, with bare minimum cash in hand, no one is really looking to purchase or invest in new properties. This has caused a steep decline in the demand and has caused major problems for the construction industry as well. A lot of people working in this industry have already lost their jobs.
RED LIGHT DISTRICT WORKERS
A lot of countries might not have legalized the activities taking place at the red-light areas but the reality is that it is one of the worst hit industries.
With no people leaving their houses and visiting these areas, there is literally no work left for those
marketing the activities available. Prostitutes are also struggling to make ends meet.
AIRLINE INDUSTRY
Undoubtedly, one of the worst hit industries in the world is the airline industry. Nothing in this world can compensate for the kind of loss this industry is going through. With international travel almost dead and doesn’t seem to open anytime soon, it is safe to say that the airline industry is going to take a lot of time to regroup and go back to normal. The estimated loss is a whooping...$113 billion dollars
TRAVEL INDUSTRY
You don’t really need to be a rocket scientist to understand why travel industry is the worst hit industry by this pandemic. Nobody is allowed to travel and even if they do get permission to travel in few months, the fear of contracting corona is too severe to let anybody travel with an open mind. The situation is extremely critical with a lot of companies having to shut their businesses altogether. The GDP of a lot of countries is dependent on the travel industry and with this current loss, their GDP is going to get affected as well.