The global pandemic has disrupted various industries worldwide since the COVID-19 outbreak in March of last year. Individuals, businesses, governments, and institutions have had to make the necessary adjustments to curb the spread of the coronavirus. They have implemented health and safety measures such as mask-wearing and social distancing. Governments have also imposed lockdowns and restricted movements. All these have caused serious implications in different industries around the world.
In this article, we’ll delve into the top industries most affected by the COVID-19 crisis. Keep on reading to learn more.
As COVID-19 is a global health crisis, expect the health industry itself to be the most affected. The challenge is posed on health professionals, hospitals, and medical facilities. They have the huge responsibility of taking care of people and saving lives. They also play a key role in curbing the spread of the novel coronavirus.
It’s good that the health sector has found means to cope with the pandemic situation. Doctors and hospitals now focus on providing virtual care. They also see the need for community-based care and personalized care. As they’ve seen the effects of the pandemic on their supply chain and business revenue, they’re looking for ways to address the scarcity of medical supplies as well as to boost their profit as a health business.
Next to the health sector is education as one of the most affected industries. Because of the COVID-19, authorities have to shut down schools. In fact, 50 percent of students worldwide are still affected by the full or partial closure of educational institutions. Both teachers and students have had to rely on online learning. If some schools have reopened, they have to set safety measures in place strictly.
It’s good that today’s technology has been such great help in managing crises such as COVID-19. In fact, we’ve witnessed how online education via the web has aided many students and teachers. They’ve even gone as far as using virtual or extended reality in education. This is an innovative approach to enhance the learning experience of students amid the pandemic.
3. Retail Business
It’s expected that the retail industry is among those industries drastically affected by the global crisis. Among businesses, small and medium-sized enterprises (SMEs) have suffered the most. While some have gone on a temporary hiatus, others have shut down for good. In fact, about 100,000 establishments have gone out of business due to the pandemic.
But on the other side of the spectrum, we’ve seen an increase in new business applications in the US. This is because of employees who were laid off from work. A few others have seen new opportunities in business presented by the pandemic. These business opportunities include telehealth, cleaning service, delivery service, mask creation, and digital marketing, among others.
4. Travel and Tourism
Due to lockdowns and restricted movements, the travel and tourism industries have greatly suffered. In fact, the tourism and hospitality sectors are among those personal services currently at a standstill due to the pandemic. On a more specific note, the airline industry is also among those affected due to travel restrictions.
Still, businesses in the travel and tourism industries are looking for ways to stay afloat amid the pandemic. But with mass vaccinations, people are now starting to go outdoor and even travel. Expect these travel and tourism industries to boom during the post-pandemic period.
5. Food Industry
The food industry is among those affected by the global crisis. We’ve seen numerous restaurants having closed last year due to the pandemic. However, restaurants in some countries have gone back to business in a limited capacity and with strict social distancing. Even the supplies of goods or products have been halted or strictly regulated.
But on the other hand, food businesses have seen growth opportunities in providing delivery services. They are even using food delivery apps to cater to the needs of people while making profits. People now rely on these food services while stuck at home. All it takes is for them to order meals via apps and get their foods delivered right at their doorsteps.
There’s no denying the impact of the COVID-19 crisis on different sectors worldwide. But as the pandemic has gone over a year, we’ve seen how different industries have managed to cope with the situation. Whether in healthcare, education, retail, travel, or food, individuals and businesses have managed to rise above the situation. And they will continue to address some challenges until the pandemic finally comes to an end.