As the world focuses its attention and focus into the reawakening of the economy as in many counties the end of the Pandemic has been seen just over the horizon, only then was the fallout and consequence of the pandemic in terms of the economic aspect was clearly seen and did became palpable for the general public’s realizations. According to the latest data, here are some of the businesses that was greatly affected by Covid19 Pandemic globally.
As they are the first to fall sadly, they were also the ones to were last to rise. In recent data, shows that businesses in the category of fun and recreation was the first to suffer when the pandemic hit globally. Gyms, amusement parks, hotels and the likes were the businesses who took the first harsh blow of having to let employees take a hiatus in work and some even were forced to cease operations. As the world slowly rises from the ashes of the great pandemic, it would help a lot if local government focus on such data as to help revive this aspect in the business sector.
Logistics and Shipping
It goes without saying that when the borders were closed, not only the area of travel did suffer but also on the shipment and delivery of goods as well. The logistics and shipping companies actually tried their utmost best not to capsize in the face of a very real threat to their businesses. Even if many struggled, a huge percentage of such companies managed to survive in by inch until the borders were finally opened and shipments were allowed to continue. Domestic air freight for example, had to take various detours in their route just to make a complete delivery.
When movement and travel is restricted, it also follows that food services and its operations gets affected as well. Sales and operations of food services companies such as restaurants and fast-food chains were cut to more than half of its usual average, not to mention the delay in delivery of its goods and raw ingredients plus the curfews and lockdowns which greatly lessens it productivity during the first year of the pandemic and the ensuing lockdowns that followed. Many adopted to mobile delivery platform in order to cope with the restricted operations, which turned out to be of great success for the food services industry.
One of those greatly affected by the pandemic obviously is the health sector. The government run hospitals and clinics were overwhelmed during the first year of the onslaught of the pandemic, many dies sue to that thus they turned to private hospitals for its services, apart from being overwhelmed private health institutions as well was stretched thin and struggled to meet the demands and also suffered financial issues as state-run insurance companies almost went bankrupt because of the sheer number of Covid19-related cases.
Because of the series of lockdowns and harsh restrictions and policies adopted by industrial countries there seemed to be a trend of decline in terms of businesses and its adaptability to current laws and policies.