Airlines: As per the International Air Transport Association (IATA), the global airlines are likely to face a loss of $113 billion in sales if the Coronavirus continues to spread. According to a report published on CNN, these losses will be similar to that the aviation industry incurred during the global financial crisis of 2008.
Film Industry: The film industry may lose billions of dollars due to the outbreak of coronavirus across the globe. According to a report in Axios, people are scared of the virus and have very little motivation to watch a film in the hall when they know that they can stream something at home. China, which has the second-largest global box office collection, has most theatres temporarily shut and as a result of the loss so far is estimated to be $200 million in 2020.
Pharmaceuticals: A hit in the Indian pharmaceutical industry is likely due to the coronavirus outbreak. As per media reports, the industry is feeling the pressure of supply as the number of people with symptoms of Coronavirus is increasing. A hike in prices of the medicine is also being increased due to the shortage of supply of active pharmaceutical ingredients.
Steel Industry: Union Minister of Steel Dharmendra Pradhan recently said that the impact of the epidemic may last for two to three years as China is the largest producer of steel. As per media reports, demand in China has been impacted more than supply leading to an increase in domestic inventory and reduced prices.
Tourism Industry: According to Henry Harteveldt, president of the global travel industry advisory company Atmosphere Research Group, this is the worst hit there has been in the worldwide travel industry after the 9/11 attack. In a report that has been published in NBC it has been mentioned, that, low-cost airline Flybe said it was ceasing operations, citing a large number of coronavirus cancellations. In Rome, sidewalk cafes are empty and the usual lines of tourists visiting the Vatican’s Sistine Chapel have vanished.