The coronavirus pandemic is affecting millions of people around the world, but while its most noticeable effect is on the health of the nations, we also cannot ignore its impact on other spheres of life. Find out who will emerge as winners and losers from the COVID-19 pandemic this year.
1. The Winners
News reports and financial experts are rather pessimistic during the time when the coronavirus is spreading across the planet, but there are several businesses and entities who will only thrive from the pandemic. Here are the projected winners of the COVID-19 events.
- E-commerce. For many people, e-commerce is the only way they can shop right now. When you are quarantined, you cannot even go out to buy groceries. Plus, even in the toughest times, people still want to lift their own spirits with new clothes, makeup, gadgets, and other goods. That is why e-commerce businesses will not be particularly affected.
- Delivery services. Since more and more people choose to stay inside, they need someone who will deliver their purchased goods. From takeaway food to necessities – delivery workers have been delivering goods non-stop since the start of the pandemic and will continue to do so long after COVID-19 is over.
- Pharmaceuticals. Unsurprisingly, the pharmaceutical industry is going to survive the coronavirus pandemic just fine. People will not stop buying the medicine they need on a daily basis to survive, and with people also purchasing medicine that is used for the treatment of COVID, pharmaceutical companies are expected to only increase their profits.
- Protection manufacturers. Perhaps, the three hottest commodities of spring 2020 around the world are masks and respirators, hand sanitizers, and disposable gloves. Millions of people around the globe are purchasing these goods every day, so anyone who produces them will automatically emerge as a winner after the pandemic.
- Online services. In the past, we mostly used various online services like Netflix, Google Play Music, and others to keep ourselves entertained. Since the beginning of COVID-19, millions of people are also using online services like Zoom to hold work meetings, homeschool their children, and meet online with friends and family members.
2. The Losers
Even though there are several industries who will only benefit from the coronavirus pandemic, there are even more businesses who are projected to suffer big losses or even cease to exist altogether. Here are the most likely losers of COVID-19.
- Travel industry. Without a doubt, one of the industries that are severely affected by the pandemic is the travel industry. With air travel being suspended in most countries, borders being closed, tourist attractions being quarantined, and travel offices being temporarily closed, the tourism industry is already suffering huge losses and will likely find it hard to recover this year.
- Entertainment industry. Right now, we are not going to the cinemas, theatres, concerts, and other public events. Artists from all over the world cancel their shoes until the end of 2020. The entertainment industry is not making any profit today, but there are also talks about the pandemic changing it forever.
- Small businesses. For many Nigerians, their small businesses are the only way they can make a living for themselves and their families. Tiny clothes and cosmetic stores, tailors, hairdressers, manicurists, cosmetologists, photographers, and dozens of other businesses and business owners are not allowed to work right now and it’s not clear whether they will recover after everything is over.
Culled From Jiji Blog