Coronavirus Impact on Industries: Negative
Aviation Industry: Fear of the pandemic has peaked. People are worried about being stranded in unknown lands, away from family, away from friends, and for few away from even strangers.
Those who were away on business or leisure flew back home or flying back home at the earliest and are staying put. Needless to say, the Aviation sector has gotten its wings clipped.
Governments across the globe are banning passengers from Coronavirus impacted nations. Others are closing borders to prevent any more cases. With low passenger counts, the ghost flight phenomenon is becoming a reality.
Many airlines have grounded their craftsassociates’ which is incurring a hefty toll on their ledger. The international aviation industry now facing a widespread shutdown.
In an attempt to ease the dip, many airlines have announced new flight reductions. Alas, as more countries introduced travel bans and isolation requirements wanderlust seems a distant reality.
Hotel Industry: Hospitality and tourism go hand in hand. When one is impacted, all the associated sectors feel the domino effect. Following the impact of Coronavirus, a majority of tourists have self-quarantined themselves in their homes.
With almost zero footfall, the hotel industry is now facing a recession that is being compared to the ‘great depression of the 1930s’. Conventions, meetings, corporate events, and monitor travel has been cancelled.
Due to this, hotel owners, backend heads, waiter staff, and other employees are facing an uncertain future.
Telecom industry: Brands such as Xiaomi, Oppo, VIVO, RealME, and many more are manufactured in China. With Wuhan being the epicenter of the virus, major manufacturing units have been closed down due to government orders. Additionally, Apple has shut all stores across the globe.
This has a negative impact on their business output. This might result in bearish market in Q4 of 2020. The MWC (Mobile World Congress) event, the biggest congregation in this industry was to be held in Barcelona, Catalonia, Spain at the Fira de Barcelona Gran Via.
This event held usually in February or early-March, has been cancelled for 2020 due to the Coronavirus outbreak. This was the biggest event global mobile operators, technology providers, vendors, device manufacturers, and content owners.
Sports: NBA has been postponed, the Indian Premier League is delayed, UAE Tour has been abandoned, even the fate of the Tokyo 2020 Olympics is under speculation.
This has resulted in billions of dollars lost in revenue for brands. Famous celebrities like Mikel Arteta, Rudy Gobert, Fernando Gaviria are some of the star sportspeople who have been tested positive for Coronavirus. Ronaldo, Messi and even Tennis star Serena Williams have opted for self-quarantine for 6 weeks.
Restaurants: ‘Contactless delivery’. Fear of Coronavirus is so high that restaurants who are permitted to only deliver food are marketing ‘Contactless delivery’. This was the final nail in the coffin for delivery boys, servers, waiters, dish boys, as restaurants are permanently shutting down.
Small scale businesses are unable to have contingency plans and survived on monthly income and tips. With zero footfall, end budgets are impossible to achieve.
They have thus terminated employment and resulted in added stress between the pandemic.
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