7 Industries most affected by Covid-19 lockdown

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Let us see which are the 7 industries mostly affected by Covid-19 lockdown.

  1. Restaurant Industry

One of the most affected industry will be restaurant industry without any doubt. Main reason being the lack of courage or permission from the authorities to step out of the house. It is chance the customers are taking while going out and eating the food which is cooked by somebody they don’t know. Now a days everyone started cooking at home for the fresh and safest food rather than consuming something risky from outside. The estimated loss is around $229 Billion for the restaurant industry around the world.

  • Hotel Industry

The other major industry got affected by this lockdown is the hotel industry. The hotel industry has reached a standstill after almost 3 months of lockdown. There is nothing happening in the hotel industry at all as people are not leaving their homes. As a result the hotels are completely shut, and not even able to see the light of normal business at the end of the lockdown tunnel. The hope is less and lots of hotels around the world has already been shut forever.

  • TV and Film Industry

For more than 2 months everyone locked at home and mostly looking at the TV and other entertainment programs. The most important thing we realize recently is that all the programs we are watching now have been shot much earlier. That means nothing is being shot recently! And all the shows currently appearing are being repeated. Millions of people working on the entertainment and TV/Film industry are now out of jobs. As the Corona pandemic continues, no one will be bold enough to invest and produce new films in the near future.

  • Sports Industry

Nothing is happening in the sporting industry at all now. It affected all Football, soccer, basketball, cricket, tennis and baseball industry. European and American leagues cancelled all their favorite sports items like soccer and baseball matches. They are planning to start all over again once everything comes back to normal and doesn’t seem to be a possibility anytime sooner. Everyone directly or indirectly related to sports is now going through a very difficult situation and will have to continue their struggles for quite a long time. The expected loss in the sports industry alone is around $650 Billion.

  • Fitness Industry

One of the first places got shut just before the lockdown were health clubs and gyms. As gyms will have to handle a lot of people at the same time, social distancing is just a dream there! This causes lots of panic among the people comes for workouts on a daily basis. Their health consciousness may cause total health disaster if they keep coming to the gym avoiding social distancing. They will continue to remain closed for long and the total loss is expected to be $100 Billion.

  • Crude Oil Industry

As there are no major business, transportation and logistics movement taking place, the consumption of crude oil has seen a rock bottom at this pandemic time. Once people forced to stay home due to Corona, the demand for petrol and diesel has gone down giving a major slap on the face of the crude oil industry. As an effect of all these, the crude oil prices reached negative in USA for the first time in the history! As a result of all these, the oil producing countries had cut short 70% of the production. Future for this industry is not looking good as the pandemic is still spreading like anything even now.

  • Construction Industry

People all over the world are facing difficulties in making their ends meet with nothing happening around them. In this broken situation with bare minimum cash in hand, no one is seriously looking to purchase or invest in new properties. And no one is going to start new construction projects very soon in the near future. This has caused a steep decline in demand and has caused major problems for the construction industry. Job losses in the construction industry are the top in the list during the last 2 months.

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