4 Industries that are Hit Hardest by Coronavirus Pandemic

There is no doubt in the fact that the coronavirus pandemic has shaken the world to the core. In a time when every country was busy buying automatic weapons, fighter jets, tanks and submarines, no one thinks that how well they are prepared to deal from such a pandemic. The impact can be seen from the news that so far, 6.65 million people have filed for unemployment in the USA alone. There are many industries that are hit hardest by coronavirus pandemic, but few of them are bearing the heat the most. In this post, we will share the 4 industries that are hit hardest by coronavirus pandemic all over the world.

Also Read: Will the Internet Crash? Here’s What You Should Do

Travel and Tourism Industry

After China, the coronavirus travelled across different continents and taken the travel and tourism industry by storm. The disease is so contagious that most airlines landed their fleet and hotels cancelled their booking until the situation is getting better. Due to this, travel and tourism become one of those industries that are hit hardest by coronavirus pandemic. Countries, such as Mauritius, Indonesia, Maldives, Thailand, Seychelles, among many others are the worst hit. International Air Transport Association (IATA) has recently said, if the virus continues to spread at the same pace, the airlines across the world may lose up to $113 billion in passenger revenue. 

Tech Industry

Another one in our list of 4 industries that are hit hardest by coronavirus pandemic is the tech industry. Thanks to the fact that the nature of the software companies is such that the development work can be done remotely as well. Hence, it saved it greatly saved itself to a great extent. Yet, the future seems not so promising. Taking the current situation under consideration, many companies, including Google, Facebook, Microsoft, Atlassian, and many others have cancelled their global events. The startup is another industries that are hit hardest by coronavirus pandemic. Companies who do the development work, and have projects to do would be able to sustain in the upcoming months, but the problem will begin when they will have to look for the new clients.

Entertainment and Sports Industry

For the first time in the history after World War II, Wimbledon Championships 2020 has been called off amid the coronavirus crises all around the world. Other than this, both Euro 2020 and the Tokyo Olympics have been postponed for the next 12 months as no country is willing to send their players when the global death due to coronavirus has topped 50,000 mark. The impact is so high, that we have listed sports in our list of 4 industries that are hit hardest by coronavirus pandemic. 

However, the entertainment industry has other story to tell. As more and more people are locked down in their homes, there is a steep rise in the number of people opting for online video streaming platforms to kill the boredom. So, they are making the most due to the current situation.

Also Read: Tech Companies are Doing their bit to Mitigate Coronavirus Pandemic

Retail Industry

Retail is one of the industries that are hit hardest by coronavirus pandemic. As malls are closed and shopping centres are shut down due to lockdown. With no customer in the market, they are severely impacted by the disease. Apart from this, the Indian government has ordered the only vegetable, chemist and other essentials shops to open, hence all the other retail businesses are struggling to even give salaries to their workers. In fact, e-commerce websites, such as Nykaa and Myntra have suspended their services keeping the outbreak in mind. This way, e-commerce is another industries that are hit hardest by coronavirus pandemic.