15 industries failing because of the Coronavirus
15 industries failing because of the coronavirus. Hello World, I hope you all are well and safe. As we all know the current situation of our world due to coronavirus.
Whole world is suffering from coronavirus including all businesses, markets etc.
And today we will discuss some of the industries which are failing due to coronavirus.
So here are 15 industries failing because of the coronavirus and for the discerning person, a world of opportunity awaits to rebuild.
Businesses failing because of the coronavirus
1. Malls and high streets:
As infections rise more and more countries are imposing complete social distancing rules including limits on going to public spaces and shops for non-essentials.
High streets and malls are emptying out and turning into ghost towns no matter how impressive the sales in the clothing shop windows look,
it isn’t persuading the majority of shoppers to deviate from their straight path to and from the grocery store.
Many shops have made the decision to switch off the lights and send their staff home to save costs and protect their employees and shoppers.
Jeff Bezos recently announced he’s on the hunt for 100,000 new Amazon team members.
2. Restaurants and Bars:
Social distancing is key to containing the virus. Many governments have had to force shutdowns of restaurants and bars where people haven’t heeded the national call to remain away from group gatherings.
The governor of New York State Andrew Cuomo declared a total shutdown of all non-essential services and ordered everyone to stay home.
All that remains open across the state are grocery stores, pharmacies, doctors, gas stations and limited transportation routes,
meaning all bars and restaurants are closed immediately except for food delivery services.
There is no way for these establishments to make an income most have closed but some keep serving clients by delivery.
3. Music Festivals:
From South by Southwest to Coachella Africa burn to Glastonbury musical festivals are called off for the foreseeable future.
These events are a hotbed of germ swapping as it is and now with a deadly virus like covid 19, no one is taking any chances.
And this has a huge knock-on effect for everyone involved from music artists to booking agents, backstage and rigging crews, accommodation, travel ticketing, and small businesses like food vendors will all be taking a big hit on their annual income.
Many of the costs like marketing will never be able to be recovered.
It’s unclear what music festivals will be like in a world post coronavirus, will the public ever have an appetite for large public gatherings again after this? Only time will tell.
4. Sporting Events:
On March 11th the NBA suspended its season when one Utah Jazz player Rudy Gobert tested positive.
It seemed like a dramatic move, but on March 16th the NBA posted a total of 14 positive cases of Covid19 infections involving staff and players.
Much like with music festivals, sporting events are a multi trillion dollar industry globally,
an industry whose future now looks bleak from Ironman triathlons to marathons school sports tours to premier leaks.
There isn’t a fixture still standing even the Tokyo Olympics set to begin on July 24th is hanging in the balance.
The financial losses to these industries are exponential and they’re supporting industries,
like travel and hospitality are hurting too but more on those industries later.
5. The beauty service industry:
In a world where touching your own face is a no-go zone there’s not much attraction to head to a salon for FaceTime with a stranger who’s interacting with other people all day.
Sure there’s a high level of Hygiene in the industry but that doesn’t make it a wise move to head out for a facial if you don’t critical we need one,
and because none of us are really going out to see others having your hair and nails done suddenly isn’t such an essential and most people are saving the money for now.
6. Gyms and the Fitness industry:
If you hadn’t already thought about the high risk of contamination involved in a hot sweaty body fluid filled workout session of gyms
and now is the time to get thinking many gyms and sporting facilities have shut down until governments relaxed the restrictions on public gatherings the big gyms that have you locked into such ironclad contracts aren’t going to be too effective.
It’s the smaller fitness clubs and personal trainers that are feeling the pinch as people social distance themselves and stick to isolation.
7. Wedding and Funeral Industry:
Here comes the no one because group events are strictly forbidden weddings are being postponed left right and center and funerals or ah nights in South Africa
for example even before the official countrywide lockdown on March 26 gatherings of more than 100 people were strictly forbidden to curb corona spread.
In the USA on March 16th Trump’s administration recommended avoiding gatherings and groups of more than 10 people.
In Australia funerals are suspended as they’re considered non-essential gatherings but in the case they do continue should only be in small groups with two metres between each person.
These restrictions put a huge dampener on the wedding and funeral industry.
8. Cinemas, Theaters, Museums and Art galleries:
Social distancing means keeping out of public spaces. But it also spells disaster for businesses that rely on members of the public to buy tickets.
The loss of income can be crushing to these industries as many of the exhibits artists or movie titles were booked and paid for for over a year to secure them.
Then when the income doesn’t come in or the season moves along these are not costs
that can be recouped it’s an overwhelming blow for the international and local art and culture scene and will be a big blow to all associated businesses.
9. Airlines and Travel agencies:
As we all know that the government has stopped all airlines and is asking people to stay at home.
Due to this, airlines industries and travel busineses have been suffering huge losses. And that’s why some companies are on the verge of closure.
10. It’s a bad time to be in the Cruise Liner Industry:
Covid has prevented cruise liners from physically docking into ports. Why?
because the spread of the virus on the ships has been so rapid it started with a diamond cruise in Japan being refused to dock it’s 3,700 passengers
and crew were quarantined at a Japanese port on February 4th after 700 passengers tested positive, sadly eight people died from Covid19.\
And similarly many cases were found in the Cruise Liner Industry, thats why it forced to shutdown.
11. Big factories and industry:
Most of the big factories have to be closed, because there is a lot of people working in the factories,
and there are more frequent interaction between the workers and due to which the risk of spreading the virus is high.
12. The Dutch cut flower industry is risking a complete collapse:
At the al-Samir auction the largest flower auction in the world, 20 percent of its flowers presented for sale had to be disposed flowers from all over the world are sold daily at auction at this gigantic market.
The warehouse it takes place in is the fourth largest building in the world by footprint. Prices took a 50% dive in March causing the market to enter panic mode.
Royal flora Holland was quoted as saying “Without emergency credit from the government and banks many companies will go bust in a matter of weeks”.
13. The hotel industry has been forced to shut up:
Hotel industries have also suffered a lot from the Corona virus.
People are staying in their own homes, no one is going out of the house due to which hotel rooms are not being booked.
14. School related services are often small businesses dependent on fees:
There are many small businesses that support the school and childcare industry.
From school meals to transportation dance lessons to sporting coach’s and generally speaking these are no work no pay services.
During this time of uncertainty many small businesses sit in limbo waiting to see when lockdowns on social distancing will be lifted to allow them to operate once again.
15. Sightseeing tours and guiding industry:
Since people all over the world are suffering from this deadly virus.
Nobody is taking sightseeing tour or explore any place.
Everyone is in their homes and waiting for everything to be alright.
Since people are not going to roam anywhere, due to which the jobs and business of tourist guides have also stopped.
So these were the 15 industries failing because of the coronavirus. Hope you liked this post.
If there were any mistake in this post then feel free to inform us in the comment section, we will surely work upon that.
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