Every industry in the world has been somewhat affected by covid-19 in 2020. The top 10 industries most affected by coronavirus/covid-19 have dived, swam or jumped through the pandemic in terms of financial and economic impact.
Top 10 Industries Most Affected by Covid-19 In 2020:
Positively affected industries with financial gains in green are top 5 and negatively affected industries with financial losses in red are bottom 5.
- Pharmaceuticals – Johnson and Johnson recently announced their plan to produce over 1 billion vaccines to combat covid-19. The industry is considered one of the most essential in combating the pandemic.
- E-commerce & Digital Services – only the biggest e-commerce, digital media, food delivery and social media companies will positively grow during the pandemic i.e. Amazon, Google, UberEats, Instagram and Paypal.
- Healthcare – Most of the healthcare industry has remained open and profitable through covid-19 as many fight to save lives and protect people from covid-19 and other illnesses.
- Manufacturing – Mostly of essential products such as food and healthcare supplies, manufacturing industries have remained open and profitable through covid-19.
- Insurance – The biggest insurance companies pre-pare and pre-insure themselves against major events such as pandemics. Losses to the insurance sector is projected to be minimal especially in relations to the 4 essential industries listed above.
- Banking & Finance – Loan defaults, currency devaluations, interest rate pressures and falling equity markets will negatively affect the balance sheet of many financial institutions.
- Oil & Gas – Oil & Gas investments are significantly low as oil prices hit a historic negative in April 2020. As demand for oil dried up during the lockdown, US oil prices dropped below zero at negative $37.63 a barrel. Oil & Gas prices are expected to rebound as economies open up again.
- Travel – The industry at the center of the global spread of the virus has been highly impacted by the downturn of events surrounding the virus. International non-essential travel came to a halt in many parts of the world. Over 60% of airlines are at risk of bankruptcy without government bailout.
- Retail & Wholesale Trade – Non-essential trade has been at a stand still with hundreds of highly notable companies at risk of bankruptcy. Neiman Marcus, JC Penney, J Crew and other big brands filed for brankruptcy in Q2 2020.
- Tourism – From Disney World to Trump Towers, from event centers to nightclubs, from restaurants to casinos, many tourist venues have remained closed with revenues at standstill and net losses accumulating.
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