{"id":4640,"date":"2020-10-03T09:37:17","date_gmt":"2020-10-03T09:37:17","guid":{"rendered":"https:\/\/sheknowsfinance.com\/?p=4640"},"modified":"2024-01-03T09:36:43","modified_gmt":"2024-01-03T09:36:43","slug":"the-ugly-mark-that-covid-19-left-on-the-market","status":"publish","type":"post","link":"https:\/\/sheknowsfinance.com\/the-ugly-mark-that-covid-19-left-on-the-market\/","title":{"rendered":"The Ugly Mark that COVID-19 Left on the Market"},"content":{"rendered":"\n

COVID-19 remains the worst humanitarian disaster. Inasmuch as some countries had some form of contingency plan for a pandemic, the magnitude of COVID-19 was unprecedented. To date, the disruption caused by the pandemic on the market still linger. In March 2020, the effect of the pandemic resulted in the halving of global economic growth.<\/p>\n\n\n\n

The most recent June 10 Organization for Economic Co-operation and Development (OECD) economic outlook shows that the world experienced 13% decline in GDP by the first half of the year. While some sections were ground to a halt, others experienced tremendous growth. It took the effort of macro research analysts to expose this sublime opportunity. The greatest depression often opens up the greatest opportunity. Below are alarming statistics from some of the losing sectors.<\/p>\n\n\n\n

Aviation sector<\/strong><\/h3>\n\n\n\n

To limit the spread of COVID-19, there was a ban on international travel. Consequently, the aviation sector was left to count their loss. According to the International Air Transport Association (IATA), the sector was projected to lose $113 billion. Also, due to disruption in the global value chain, the World Trade Organization (WTO) projected between 13% and 32% decline in global trade. Countries that rely on tourism as a major source of foreign exchange suffered severe shrinkage.<\/p>\n\n\n\n

Hospitality industry<\/strong><\/h3>\n\n\n\n

The hospitality industry is another sector that took a heavy hit from the COVID-19 pandemic. Due to travel restrictions and social distancing measures, hotels continue to record low patronage. It is projected that hotels will lose as much as $400 million in room revenue per day. The figure is also grim for hotel workers who are losing over $1.7 billion earnings per week.<\/p>\n\n\n\n

Entertainment industry<\/strong><\/h3>\n\n\n\n

Stay at home orders and the enforcement of social distancing rules also meant the closing of cinemas. Consequently, the entertainment industry saw a huge drop in revenue. According to a macro research analyst, as of the middle of March 2020, the global film industry had lost a whopping $7 billion in revenue. Box offices were closed, movie premieres postponed, screenings canceled, and theatres closed. By the end of May, that figure had risen to $10 billion.<\/p>\n\n\n\n

Real estate industry<\/strong><\/h3>\n\n\n\n

Following job losses and pay cuts, the real estate market became unattractive. To date, many families and businesses are still struggling to pay their rent. A report by the National Multifamily Housing Council (NMHC)\u2019s Rent Payment Tracker shows that only 76.4% of households have paid their rent in part or full by September 6. This indicates a 4.8% decline when compared to the same period in 2019. This survey considers 11.4 million units of professionally managed apartment units across the United States. A tweak in the parameters can result in grimmer figures.<\/p>\n\n\n\n

Oil and gas industry<\/strong><\/h3>\n\n\n\n

Nationwide lockdown led to a sharp decline in the demand for oil. This is the third time in 12 years that the oil and gas industry is experiencing price collapse. The price collapse was made worse by a slump in demand and excessive supply. Consequently, OPEC had to convene to agree on a production cut to regulate the price of oil on the market. Countries that relied on oil and gas export for revenue were either thrown into recession or on the brink of it.<\/p>\n\n\n\n

Top gaining sectors from COVID-19<\/strong><\/h2>\n\n\n\n

While some sections of the market are shutting down, other sectors are expanding. The healthcare industry experienced an unprecedented boom with the increase in production, sale, and tariff cut in medical supplies. Social media platforms are also witnessing a bump in users. For example, WhatsApp saw a usage increase by up to 40%.<\/p>\n\n\n\n

Conclusion<\/strong><\/h2>\n\n\n

Covid 19 did not affect the world equally. However, you may not know this unless you have good statistics from a macro research analyst. This knowledge can help you to restructure your methods. The difference between a loser and a gainer is often the amount of information they have.<\/p>","protected":false},"excerpt":{"rendered":"

COVID-19 remains the worst humanitarian disaster. Inasmuch as some countries had some form of contingency plan for a pandemic, the magnitude of COVID-19 was unprecedented. To date, the disruption caused by the pandemic on the market still linger. In March 2020, the effect of the pandemic resulted in the halving of global economic growth. The … Read more<\/a><\/p>\n","protected":false},"author":13,"featured_media":4644,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[7],"tags":[],"yoast_head":"\nThe Ugly Mark that COVID-19 Left on the Market - sheknowsfinance<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/sheknowsfinance.com\/the-ugly-mark-that-covid-19-left-on-the-market\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"The Ugly Mark that COVID-19 Left on the Market - sheknowsfinance\" \/>\n<meta property=\"og:description\" content=\"COVID-19 remains the worst humanitarian disaster. Inasmuch as some countries had some form of contingency plan for a pandemic, the magnitude of COVID-19 was unprecedented. 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