COVID-19 Crisis: Collateral Economic Damage Across Sectors

The novel coronavirus has impacted various sectors of the economy across the world. With the outbreak of COVID-19, the travel industry has taken a hit across the world. Many airlines have grounded their aircraft, while some are operating limited flights.

Inevitably, the COVID-19 outbreak has hit the hospitality industry hard. Hotels across the world have reported low occupancy. With Europe proving to be the new epicentre of the coronavirus, the tourism industry has been severely impacted in the Continent, as it has been elsewhere in the world.

Sports events across the world have been cancelled and some are being held behind closed doors. In Europe the biggest football draw, La Liga has been put off, along with several other sports meets, while in India the blockbuster IPL has been postponed by two weeks. It is now scheduled to kick off on April 15. The India-South Africa ODI schedule also has been put off.

The movie industry has also suffered on account of the spread of coronavirus. Shooting schedules have had to be put off. The release of films in Hollywood, Bollywood, Tollywood and other languages and regions has been postponed.

Malls, theatres, restaurants and public places have been seriously impacted with her widespread lockdown, as also restrictions people have imposed upon themselves in the wake of the spread of COVID-19.

Practically all sectors of the economy have suffered a setback due to the outbreak of COVID-19.