The COVID-19 pandemic has brought a new face to the whole world. It has taken countless lives away from the surface of the earth. It has also made us believe that adapting to the new normal is the only option left with the human race. Even in these difficult and pounding times, it becomes necessary for the inhabitants of this globe to analyze how the pandemic has shaped and affected various aspects of the human race regarding business and economic conditions. The general narrative among the masses is that almost all the major business industries globally have suffered due to this outrageous disease. This fact is true to some extent but, another point to be considered here is that the limitations caused by the pandemic have paved the way for several industries towards glory. "Glory" here refers to millions and millions of dollars. Following is a brief discussion of the fall of some globally leading industries because of the pandemic. The businesses that have bloomed because of this pandemic situation will also be taken into account.
Industries Negatively affected by COVID-19:
Airlines are one of the leading industries in the world. These companies generate enormous amounts of revenues annually by transporting people across the globe. The world is almost into its third year affected by the pandemic, but the airline industry remains in the top five of the most affected industries globally.
For poorly developed economic countries like Maldives, Srilanka, Philippines, and so on, tourism had been a fair source of annual income before the pandemic. The arrival of the pandemic proved to be a massacre to the tourism industry all over the world. Good news for this industry is that as more and more vaccine is provided to people globally, there are more chances of revival of this industry very soon.
Restaurants
Before the pandemic, going to restaurants and having a leisureful time while tasting delicious food was common to all. This pandemic has badly dented the restaurant industry in terms of annual income.
Many small-scaled restaurants had to shut themselves down to meet their needs. Many countries like Italy had an enormous part of their economy rest on the shoulders of the restaurant industry that was affected badly.
Education Industry
The education industry all over the world has been badly affected because of this pandemic. Countries like Pakistan, India, and Bangladesh, where the private education system has a stronghold, have been badly affected by the pandemic. Parents had to remove their children from the institutions because of income deficits, which caused enormous losses.
Sports and entertainment are good sources of engaging people all around the globe. Whether it is live-action sports or broadcast over the television or internet, people surely tune in to the games while happily pay for it. The recent pandemic has ceased all forms of contact sports that have resulted in enormous losses. Similar is the case with cinema & theatres. Movies that made millions of dollars overnight are in production because of the pandemic.
Industries Positively Impacted by the Pandemic
Online Retailing
eCommerce platforms like Amazon and Alibaba are among the most profitable companies during this pandemic. Even local retailing websites have reached their career-best figures during the surge of the pandemic situation. People are now adapting to the habit of sitting at home and ordering what they like for themselves. Analysts say that even after the current situation is normalized, people may stick to shopping online through websites as the human body tends to find comfort in every possible way.
Online streaming platforms like zoom and stream-yard have emerged as the leading companies in terms of profits during this pandemic. Streaming platforms like zoon and stream-yard provide an efficient way for educational institutions and corporate firms to run their operations smoothly. Local meetings among small groups of people are being carried out by the same means.
Private Hospitals
Globally everyone has been badly affected by the pandemic. The situation has gone out of the hands of the government in most countries in terms of providing suitable medical aid to the people affected by the virus. The private hospitals have benefited from this situation. A large number of people have turned towards private hospitals during the pandemic that has benefited them a lot.
The misery of one is a joy to others. This statement is perfect in describing how the supermarkets have benefited from the closure of restaurants during the pandemic. A large number of people were regular customers of different restaurants. Everyone turned to supermarkets to buy and cook food for themselves because now you can find tons of videos for recipes.
Online Entertainment Platforms
The pandemic has created a balloon of depression and anxiety around people's minds. It results in people turning towards sources of entertainment to relax. Online entertainment platforms have benefited from this situation a lot. According to a survey, during the first global wave of the virus, Netflix alone got more than 16 million subscriptions.
The consequences the world has faced after the virus outbreak was great for some people, while others may have loved their achievement due to the pandemic. That is for sure that the digital world has become the need of every business. Due to vaccination from this virus, people are forwarding towards the normal life, but you can't say when it will be like the old days. To maintain a strong economical streamline, you shouldn't put all your eggs in one basket. Do share your experience in the comment section whether you are one of the victims of downfall or have grown a fortune in this time.
The COVID-19 pandemic has brought a new face to the whole world. It has taken countless lives away from the surface of the earth. It has also made us believe that adapting to the new normal is the only option left with the human race. Even in these difficult and pounding times, it becomes necessary for the inhabitants of this globe to analyze how the pandemic has shaped and affected various aspects of the human race regarding business and economic conditions. The general narrative among the masses is that almost all the major business industries globally have suffered due to this outrageous disease. This fact is true to some extent but, another point to be considered here is that the limitations caused by the pandemic have paved the way for several industries towards glory. "Glory" here refers to millions and millions of dollars. Following is a brief discussion of the fall of some globally leading industries because of the pandemic. The businesses that have bloomed because of this pandemic situation will also be taken into account.
Industries Negatively affected by COVID-19:
Airline Companies
Airlines are one of the leading industries in the world. These companies generate enormous amounts of revenues annually by transporting people across the globe. The world is almost into its third year affected by the pandemic, but the airline industry remains in the top five of the most affected industries globally.
For poorly developed economic countries like Maldives, Srilanka, Philippines, and so on, tourism had been a fair source of annual income before the pandemic. The arrival of the pandemic proved to be a massacre to the tourism industry all over the world. Good news for this industry is that as more and more vaccine is provided to people globally, there are more chances of revival of this industry very soon.
Restaurants
Before the pandemic, going to restaurants and having a leisureful time while tasting delicious food was common to all. This pandemic has badly dented the restaurant industry in terms of annual income.
Many small-scaled restaurants had to shut themselves down to meet their needs. Many countries like Italy had an enormous part of their economy rest on the shoulders of the restaurant industry that was affected badly.
The education industry all over the world has been badly affected because of this pandemic. Countries like Pakistan, India, and Bangladesh, where the private education system has a stronghold, have been badly affected by the pandemic. Parents had to remove their children from the institutions because of income deficits, which caused enormous losses.
Sports & Entertainment
Sports and entertainment are good sources of engaging people all around the globe. Whether it is live-action sports or broadcast over the television or internet, people surely tune in to the games while happily pay for it. The recent pandemic has ceased all forms of contact sports that have resulted in enormous losses. Similar is the case with cinema & theatres. Movies that made millions of dollars overnight are in production because of the pandemic.
Industries Positively Impacted by the Pandemic
Online Retailing
eCommerce platforms like Amazon and Alibaba are among the most profitable companies during this pandemic. Even local retailing websites have reached their career-best figures during the surge of the pandemic situation. People are now adapting to the habit of sitting at home and ordering what they like for themselves. Analysts say that even after the current situation is normalized, people may stick to shopping online through websites as the human body tends to find comfort in every possible way.
Online Streaming Platforms
Online streaming platforms like zoom and stream-yard have emerged as the leading companies in terms of profits during this pandemic. Streaming platforms like zoon and stream-yard provide an efficient way for educational institutions and corporate firms to run their operations smoothly. Local meetings among small groups of people are being carried out by the same means.
Private Hospitals
Globally everyone has been badly affected by the pandemic. The situation has gone out of the hands of the government in most countries in terms of providing suitable medical aid to the people affected by the virus. The private hospitals have benefited from this situation. A large number of people have turned towards private hospitals during the pandemic that has benefited them a lot.
The misery of one is a joy to others. This statement is perfect in describing how the supermarkets have benefited from the closure of restaurants during the pandemic. A large number of people were regular customers of different restaurants. Everyone turned to supermarkets to buy and cook food for themselves because now you can find tons of videos for recipes.
Online Entertainment Platforms
The pandemic has created a balloon of depression and anxiety around people's minds. It results in people turning towards sources of entertainment to relax. Online entertainment platforms have benefited from this situation a lot. According to a survey, during the first global wave of the virus, Netflix alone got more than 16 million subscriptions.
Conclusion
The consequences the world has faced after the virus outbreak was great for some people, while others may have loved their achievement due to the pandemic. That is for sure that the digital world has become the need of every business. Due to vaccination from this virus, people are forwarding towards the normal life, but you can't say when it will be like the old days. To maintain a strong economical streamline, you shouldn't put all your eggs in one basket. Do share your experience in the comment section whether you are one of the victims of downfall or have grown a fortune in this time.
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