The Coronavirus (COVID-19) Pandemic has hit the world economy so hard, even top countries now scamper for a breather. Top companies across different sectors e.g banking, have had no other option but to just shut down or just restrict their activities to the skeletal model. These are, however, due to stringent limitations enforced by the various governments around the globe have to curb the spread of the harmful COVID-19. Despite this, some sectors profiting from the coronavirus global issue.
The International Monetary Fund (IMF), through its Managing Director, Kristalina Georgieva, on March 27 affirmed that the worldwide economy has just slipped into a massive downturn. This, normally, would have been a depressing and condemnable comment but the situation is even direr.
Besides, the Organization for Economic Co-activity and Development (OECD) cut its GDP development target for the worldwide economy for the year 2020 to 2.4%, the worst rate since the 2008-2009 global financial recession.
At the national levels, power blocs are now fast approaching a major recession. Not only are they losing businesses, they are also spending saved reserves on the treatment of patients and poverty palliatives.
Nevertheless, not every sector is suffering from this downturn. In fact, some businesses have recorded their peak revenue in these periods. Some sectors are really profiting from the coronavirus situation. Organizations in certain businesses are really flourishing in the midst of this turmoil.
This huge turnaround in lifestyle, needs, diet, movement, travel and business models now means people are compelled to spend their time indoors and on the internet. Businesses bordered around the internet are hugely “cashing out” in these dire periods..
We’ll name just five…
Video Meeting Apps
Banks, churches, firms, government, and every other organisation have been compelled to adjust their business models to become more virtual as they cannot afford to keep many people in offices for now. This is unprecedented, never have so many people been confined to working from home like this before.
Employees now work mainly from home, skeletally. This is to ensure that their businesses are not totally ruined in this period. Most manufacturers of FMCGs (Fast Moving Consumer Goods) managed to empty their inventories before fully taking this measure. While taxi-hailing companies like Uber and Bolt, and other logistics-based companies are wallowing in huge losses due to lack of businesses, telecommuting applications like Microsoft Teams, Zoom, WhatsApp, Houseparty, etc have recorded soaring figures.
Mainstream Social Media
Reports suggest that traffic on these leading social media houses have tripled since the eventual outbreak. Social media usage has risen dramatically all over the world since the outbreak of Coronavirus.Notable beneficiaries are WhatsApp, Twitter, Facebook, Tiktok, Thriller App, amongst others.
As indicated in a report by a UK-based firm, Kantar, only WhatsApp recorded a whopping 40% traffic increase in just 10 days back in March. FaceBook also recorded a similar feat. This must be huge for owner Mark Zuckerberg, who is also doing his best to give back to the global community. So far, this should top the list of sectors profiting the deadly coronavirus
Not just hospitals. Pharmacies, mobile clinics, surgeons, manufacturers of medical equipment, doctors, nurses, laboratory workers, to mention a few are smiling to the bank.
To say the least, their sole work is just one income stream in this period. Government grants, NGO inputs, and individual donations are also huge ways that they are making a lot of money during this period. People are now paying close attention to their overall health nowadays. Nev.ertheless, saving lives is still the primary goal.
People are taking the initiative to grow intellectually in these dire times. People are taking fully paid courses in business, cooking, language, programming, fashion amongst others. Facilitators of these courses have also recorded high records. The educational sector is not slowing down, it’s profiting from the coronavirus pandemic instead. Worth saying the Havard is offering over 60 FREE courses during this coronavirus period.
Although major physical media houses are grounded for now, virtual media merchants are living their best profit-wise. Cinemas, concerts, sporting events, and gala shows are at their lowest for now but their gaming versions are soaring!
People, who are home all day anyway, have now picked up their X-boxes and PlayStation devices to play back-to-back-to-back games in a bit to bury boredom. No doubt the gaming sector stay profiting coronavirus. For instance, John Boyega, who would normally spend his active days on-set somewhere, now plays virtual games ALL DAY!
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The major aggregative enabler of these booming sectors profiting from the coronavirus pandemic, you will agree, is the internet. This is the time to key into the digital-sphere. Whatever you do, make sure you create and promote your presence virtually.