Top 10 hit by Novel Coronavirus (COVID-19)

The novel corona virus outbreak which generated in China, has infected more than 940,733 positive cases, 47,518 death and 196,214 recovered cases across 200 countries the WHO (World Health Organization) has officially declared it as a pandemic. This virus was first seen in the state of China named Wuhan. Since the researcher, scientist, doctor and medical person have been continuously involved in the discover of its medicine or any of its solution, but all these practices has not come to any point. 

The only preventing measure is to keep social distance, personal hygiene measures and avoid contact with infected person. To reduce the risk involved with this pandemic most of the countries from all around the world and their cities are put into lock-down. People with doubt are kept in the isolation and are said to sot quarantine. People are only allowed to come out of their homes if they have to buy food, medicine or seek any medical treatment.

       This novel corona virus [COVID-19] is impacting the world economy. Its spread has left business around the world counting costs. Along with this, global companies have rolled out mandatory work- from home policies amid the spread of COVID-19.All these limitations are leading to the business slow down. Let's check out top-10 industrial hit by COVID-19.

1. Shares Market Hit: 

There have been seen a huge falls in global shares market since the outbreak began on December.

       Many of the cities and countries are in the phase of lock-downs. People are maintaining social distance and are in self- isolation. Investor fear the spread of the corona virus destroys economic growth and government action may not be enough to stop the decline.

In addition, central banks in many industries, including the United Kingdom have slashed interest rates. Investor frightens to invest and this cause a trillion of lost in global shares market this left millions of people unemployed.

2. Travel and Tourism Hit: 

       This industry has been very badly affected with airlines cutting flights and tourists cancelling business trips and holidays. According to the international Air Transport Association (IATA), global airlines have lost $113 billion.

      As, many places all over the world are in lock-down the heavy economic loss has been guessed so far.

       The US airlines asked over$ 50 billion in federal assistance due to the dramatic decrease in traveler traffic. According to IATA it is said that there may be loss of 11-19% in global passengers reverses at the end of the year.

3. Oil Corporation Hit: 

      The price of oil has reduced at its extreme 18 years. The cost of crude has its lowest level in a year after falling 20% since its peak in January.

     Since, the pandemic of the novel virus spread and has extended and reach up to more than 200 countries so far the world has been in lock-down. As a result, factories, offices and shops are shutdown.

The world's biggest importer of crude oil, which usually consumes about 14 million barrels a day, needs a lot less oil to power machinery, fuel vehicles and keep the lights on.

The outbreak has a particularly large impact on demand for jet fuel as airlines around the world has suspended flights.

The scale of the fall has shocked the energy industry. According to the Chicago- based oil analyst Phil Flynn "We have not seen a demand destruction event of this scale that moves this quickly."

The clear fall in oil demand is a clear symptom of drop in business activity and a sign of economic destruction. The world's biggest oil producers are said to be discussing more production cuts, on top of those which have been in place since 2016 to boost falling prices.

4.Construction Industry Hit:

Construction sectors are likely to be the worst affect by the corona virus pandemic.

                               As per the corona spread at an extreme level all around the world has gone through lockdown so all the raw materials import , export  has been shutdown which has bring a massive destruction in construction industry.

                                                                               As, the world and more cities are in lockdown people are maintaining social distance so there is scarcity of labors and skill manpower in the construction.

             According to conservative estimate, nearly 30% of all U.S. building product imports come from China and China imported to all most many countries all over the world so this has made massive loss.

                     Supply shortage has impacted the large home builder. Among these circumstances in construction everything comes down to time and money. If we look at it that way we see how unpredictable this virus is on the industry. We don't know how big it's going to be, how long it will last and what its full impact is going to be.

5. Banking Investor Hit: 

The entire financial ecosystem is being rocked as banks and credit unions around the world deal with the impact of COVID-19.The impact of the corona virus outbreak is impacting both financial market and consumer behavior as never before. At the same time, yield chasing over the past several years may exacerbate the potential for market illiquidity. The fed and the European Central Bank (ECB) have already cut rates to zero.

Investors have naturally been concerned around the world suffered trillions of US dollars.

6. Professional sports hit: 

      Cancelled games and tournaments are a major hit for professional sports. No, games mean no ticket sales and reduced media paor the first time in nearly two decades, the $ 160 million sports world has gone dark.

The 2020 Wimbledon tennis championship, Tokyo 2020 Olympics and Football in Russia, The African Nation Championship, Copa American, The Euro 2020 tournament and many more sports met and champion league has been postponed due to this pandemic

Other leagues, including the hockey league, major baseball league and major golf and WWW championship have also been cancelled. Due to Nemours postpone and cancellation of sports event professional sport has lost trillion of US dollars' so far.

7. Employment Service Hit: 

      As the spread of corona virus outbreak it's slamming the world working force. According to US reporters 18% of adults reported that they had been laid off or that their work hours had been cut.

According to the Economic Policy Institute estimation the corona virus outbreak could eliminate 3 million jobs in the United States by summer and the United Nation estimates that nearly 25 million job could be lost worldwide.

Looking for a new job is uniquely difficult during this corona virus outbreak because many organizations are lying off employees and traditional ways of hiring have also been distrusted.

The government has order to remain indoors and self- quarantine to stop the spread of the corona virus. Department stores, malls and specialty retailers are losing business and shed jobs, as people are not leaving their homes. Big retailers such as Marcus, Saks Fifth Avenue, Blooming dale's, Niemen have announced that they are closing their stores. This has caused a large number of retail workers to lose their jobs.

8. Mining Industry Hit: 

The outbreak of COVID-19 has create a unique challenge for the mainlining industry.

According to the managing director of Hammer Metal Daniel Thomas "The impact of COVID-19 presents challenge for the mining industry and in particular for junior explorers." 

As, the world is been in the lockdown the location and spread of mining activities and workforce adds complexity. The travel restriction has made operating more complicated. These all circumstances have caused billion of lost in the industry.

9. Cinema's and Entertainment Hit: 

           After the outbreak of corona the worldwide health concern has urged social distancing, and movie theaters felt the impact of that recommendation. Now, the people have stop gathering in groups, movies theater have no choice but close down.

Due to this pandemic the shooting of films, serial has been apparently shut down. Each time a production shutdown, it put hundreds of crew members and cost out of work. This has make millions of people work- less and billion of loss.

10. Retail Industry Hit: 

       The world wide retail industry has been divested by the corona virus outbreak and number of stores have already had to close their doors. Major retailer in fashion, sporting, goods stores and tech has already been shut down.

The worldwide renowned retailer has shut the doors from all the stores around the world and these cause trillion of lost.

Note: The above mention hits are top- 10 hits, other industries have also been hit hardly die to this pandemic COVID-19.