Covid-19 is affecting virtually everyone around the world, some more than others, but there is direct and indirect links between each and how it affected business and different industries. It’s been an horrendous time for all and ensuring we are getting business kick started again is the main objective. Today, we analyse how chosen industries have been affected.
— McKinsey & Company (@McKinsey) June 19, 2020
Firstly, and I’d potentially go as far to say the worst hit is the travel industry due to the abrupt hault of global travel. Businesses mainly affected by this are business that are dependent on frequent travel – e.g. airlines and hotels. And this doesn’t seem to be easing any time soon as companies are continuing to enforce travel restrictions such as working from home so it will be a long road back to recovery for travel.
The entertainment industry has had a mixed bag of emotions towards the Coronavirus; it certainly has no exception with many finding themselves out of a job. There will have been a decrease in jobs for promoters, technicians, managers and creatives due to the lockdown restrictions postponing all shows.
Miss this view, miss this vibe, miss seeing the world touring with a band. I’m really curious how Covid-19 will affect the future of the music industry?
— Ryan Van Poederooyen (@rvanpoederooyen) July 11, 2020
But on the other hand, online entertainment such as Netflix have thrived throughout lockdown, in fact they have received 16 million new sign ups, as people have not been able to leave their houses throughout lockdown so have had to find ways to pass time.
Furthermore, the gambling industry has also, according to experts, had an influx of customers over lockdown; especially on their gambling pages. Here are some casinos not on gamstop that have been receiving the surge in numbers since lockdown, and this doesn’t seem to be slowing down either especially with live sport being back up and running again so markets have increased even further.
Finally, the last industry that has been affected badly by Covid-19 is the Oil & Gas industry; due to the decreased demand for oil over lockdown due to the restrictions of unnecessary travel being banned, consumers haven’t required the like of petrol to get around as they’ve mainly been house bound.