Has coronavirus taken the Industries to a point of no return?

It goes unsaid, the coronavirus pandemic has taken the world by a storm. People and organizations have been affected adversely from the depth of individuals to heights of business sectors. As the spread progresses to an even larger scale, the business tycoons and experts are worried if the sectors will someday reach a point of no return. Apart from the loss of human lives, this is the biggest concern of all the 7 Billion people in the world and why shouldn’t it be? The fall of any of the biggest sectors of the world will directly or indirectly affect the common people, and in all, the world functioning. It has become like a game of online roulette, where you never know if you will ever be able to make up for the loss. The steel balls don’t roll as you want them to.  

However, there are some sectors that will be more affected from this economic fall. Hence, the economist will need to open the old books of business to revive them from this situation. While they try to do so, here is how the people and the sector will be affected due to the fall.

Agriculture

The lockdown that is co-existing around the world has forced the farmers to stop their works in the field and rest at home. This sudden shift in crop production and harvesting has suddenly stopped the flow of food in the market, resulting in a shortage of supply to fulfil the demand. The available food is not being sold at higher prices and the future of it seems even more tough. The crop that was to be harvested this season will be available in the future market and therefore, the problem doesn’t seem to be reviving any soon. 

Construction

The most affected of this lockdown are the sectors that had to be discontinued completely. Construction is a completely on-field work and therefore it fell under this unfortunate category of sectors. Construction site workers are forced to return their far homes and many are forced to leave their job till the time this pandemic gets over. This means that it will be a complete off-time for the workers and thousands of on-going construction projects. The only hope for the revival of this sectors seems to be the temporary job opportunity that will be in the scene when the spread starts to slow down.

Tourism and Hospitality

Talk of the most affected sectors and tourism will probably top the list. Tourism generates a major part of revenue for most countries. With the discontinuation of this sector, a major part of revenue has certainly broken the chain of economy flow, making a big hole in the world economy. Countries like Vietnam are majorly dependent on tourism and will find it hard to survive this pandemic age. The worst part for this sector is that even the future doesn’t show some hope. Even after the pandemic is over, people will hesitate to travel to different places, quite understandably, leaving a huge impact in the sector. 

Health and Care

The most affected sector of all is undoubtedly going to be the one that is functioning day and night today. Health department is the most reliant sector of the world currently. Treating people in masses has ruptured the whole structure of hospitals, exhausted all the resources of the country. Meanwhile, all other diseases have been kept aside for the treatment of corona patients, leaving a huge question mark of what will happen to the health department in the coming future.