How COVID-19 affected the business world- A report

The entire world is disrupted in most unprecedented ways since the COVID-19 has started. People are struggling, economies sinking, and businesses mostly running in loses.

CCE News- a Europe based news organisation, conducted a thorough study to figure out what businesses suffered the most loses and which were benefited from the COVID-19 crises. Their report covered both sides of the coin. CLICK HERE TO READ THE FULL REPORT

As per the findings of CCE News health and fitness,  Pharmaceuticals, Enterprise Software, Media Streaming, Home Delivery, are some of the few sectors that reached new heights during the lockdowns in the world.

CCE News explained the claims with factual information and suitable illustrations. The report insisted that the health sector remained highly profitable in certain countries where the government did not cover the fee or any charges of coronavirus patients.

As a large number of people were stuck in their homes as per the government guidelines of their governments, their only source of living depended on home deliveries of groceries and other things. Besides this, media streaming platforms were hugely benefitted from the coronavirus lockdowns- as people who used to finish a web series in a week or more binge-watched the entire television series in one day. Movies were forced to get released on OTT platforms benefitted the media streaming websites hugely.

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Listing out the worse-hit sectors, the report stated that international travel, hospitality, sporting, arts and culture suffered the most loses due to the coronavirus crisis.

Since all countries closed their borders shortly after WHO declared the COVID-19 as health-emergency, international travel was disrupted. People were left stranded a thousand miles away from their homes, and their two-week vacation turned out to be over three months long in some cases. As there were no regular flights between countries, the hospitality sector was another area to face a huge economic crisis because of the novel coronavirus. Millions of people in these two-sectors lost their jobs and are facing the worse recession of their times.

All sporting events including the Olympic Games 2020 that were scheduled for April 2020 in Tokyo, Japan will now be held on 23 July 2021 to August 08, 2021. However, some sporting event took place without the presence of audiences in the stadiums.

A similar thing happened to arts and culture. The prohibition of large-gatherings to prevent the spread of coronavirus resulted in the cancellation of many events in this file too. The event companies suffered greater loses that might not be recovered in this year.

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