The coronavirus pandemic took a toll on several businesses, including gyms, cruise lines, airlines, restaurants, and countless others. According to Dayton Daily News, the shutdown of business resulted in hundreds of people losing their jobs, causing the unemployment rates to increase across major economies.
The coronavirus pandemic affected the airline industry the most. IATA initially stated that airplane passenger revenues could drop by $314 billion in 2020 due to COVID-19. With very little air travel happening, the airline industry lost $15.4 billion since the outbreak. According to a recent report from Moody’s, the commercial airlines will continue to be devastated by the coronavirus pandemic for years to come. Although now airlines have started back up with 20-30% capacity, the industry may never fully recover.
Similar to the airline industry, according to the CDC, the cruise line industry creates a hotspot for coronavirus outbreaks due to travelers from all over the world being in close proximity to each other. Cruise lines have been making their recovery a bit faster, which has already caused some issues. An unnamed passenger aboard the Diamond Princess tested positive for COVID-19. The ship became quarantined immediately after its arrival in China, but with 3,711 passengers and crew members on board, more than 700 of the people on board became infected. For weeks, this made the ship the largest outbreak site in China.
Restaurants, gyms, and bars slowly begin to reopen. All of these industries have put new precautions in place in order to try and stop the spread of the virus. Gym owners struggled financially to remain open due to the inability to create revenue. Some may never be able to recover from the destruction COVID-19 caused. According to Spectrum Local News, the co-owner of the Rocket Fitness Gym in Lincolnton, NC, states that he has lost thousands of dollars per month during the mandated closing of gyms. Restaurants and bars slowly get back on their feet due to more and more people becoming eager to get out of their houses.
As a whole, the Coronavirus pandemic made a large impact on many businesses, so much so that some will never fully recover. With new precautions put in place in order to keep everyone safe, slowly but surely, life will begin to return to a new normal as soon as possible.
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