Countries all around the world are working hard to battle against COVID-19. While some are flattening the curve and some don’t even have cases yet, places such as Europe and the west are being ravaged.
COVID-19 has fundamentally changed everything and has affected everything as well. Jobs are being done online, shops are closing, and social gatherings are now prohibited. A complete change has occurred in how we live just so that we can all be safe. Of course, consequences are inevitably going to happen as the pandemic slowly but surely dies down. All industries are being affected, especially those that heavily relies on social gatherings or travel.
However, how exactly are these different industries being impacted by COVID-19, and will they ever bounce back from this major setback?
Health and Hospitals
Healthcare and hospitals have been the highlight of any country ever since COVID-19 started spreading like wildfire. However, the impact this has on health and facilities as a whole has been overwhelmingly negative.
Although we’re seeing record-breaking numbers of patients being admitted to hospitals, profits have been at an all-time low. Profits are decreasing, and the burnout of the providers can be seen. This has caused a post-COVID-19 plan from hospitals and healthcare facilities all over the world. The programs are separated into what happens inside and outside hospitals.
Hospitals will make an increased focus and investment in infectious diseases. Hospitals have always been vulnerable to infectious diseases, and now, COVID-19 has made it more apparent.
Capacity planning will also be done. This is so that hospitals will be able to utilize the resources that they already have efficiently.
Hospitals will heavily emphasize the growth of at-home healthcare. This is done to hopefully cut down on the workload of hospital workers. By doing this, we cut down on the mentality of instantly going to hospitals just because you’re feeling unwell.
At home, diagnosis and telehealth will also be made more frequently. Appointment and doctor consultations are done online. This is to increase the efficiency of hospitals and make consultations more accessible.
Major Global Supply Chains
Import and export have been strictly monitored, especially for global imports. So, what will happen to these supply chains?
Increase in Automation
This is one way that supply chains can adapt to COVID-19 and any post-COVID infectious diseases. The use of robots will become more of a norm because these machines can’t contract any illnesses.
Localized Import and Export
COVID-19 has proved that when China is crippled, the rest of the world is profoundly affected. Thus, a lot of local supply chains will have to take up the mantle and be of higher importance than global suppliers.
Travel and Airlines
If we’re looking for a candidate for the worst industry to be a part of during the pandemic, being in the travel industry is a top contender. Airlines companies are closing and declaring bankruptcy left and right, what happens next?
Domestic and International Trips
International travel has been put to a halt. This is probably going to be the case until a vaccine is made and mass distributed by governments worldwide.
If we take a page in the book of countries that have flattened the curve, the priority of these airline companies will be mainly on domestic travel. People are going to odd destinations and are going to have the option to go by car or other means of travel.
Entertainment and Media Industry
Self-isolation has confined millions of people to their homes. With that, the need for entertainment has been high. Nowadays, streaming services are becoming more and more popular. Experts are expecting streaming services and other dominant forms of online media to be just as impactful in a post-COVID era.