Starting from early 2020, the world faced a global pandemic “Covid-19” crisis. People’s everyday life affected, jobs lost, business going bankrupt, loves one lost their life succumbed to the virus, societies force to stay home to stay safe and to prevent spreading of the virus.
In the time of writing this article, the pandemic curve worldwide still rising and waiting for second or third wave, nether less to say that this situation will continue till next year 2021 or as soon as we able to create vaccine for the Coronavirus disease.
However, what human evolution had taught us since millennial ago is survival. Human survived black death, spanish flu and other pandemic in history. So i believe we will survive and beat the Coronavirus disease too. Today, we will discuss how Covid-19 Pandemic affected businesses and livelihood worldwide.
Airline or Aviation
The forever and uncertain banned of air travel had heavily impacted airline businesses. Take Richard Branson, the owner of Virgin Atlantic for example, he had to take a loan from government and sell his island to stay afloat during the pandemic crisis.
“You might wonder why does a billionaire needed help? can’t he use his own money to survive this crisis?”
One word, well three words, non-cash assets. You might think that all the billionaires have actual billions of cash in their disposal, when i say disposal, i meant in their ‘secret bank’ 🙂 well not all them have, maybe Warren buffett, not really know for sure…ok back to topic, the truth is most super rich were valued on their company stock, property and anything non-cash equity, owning 1-2 of those 100 million super yacht maybe.
In the time of pandemic where movement and activities is restricted, selling property for cash will be a bit difficult unless you’re willing to take a huge loss with price cut, maybe down to 50%.
This is where government aid comes in handy because we all know government have all the ‘clean’ money in their federal reserved bank. This is the reason why when in time of crisis, government will stimulate an exodus plan to help small businesses and corporate that needed help to survive. Research estimated a whooping $252 billions lost in aviation due the pandemic.
Hotel and Tourism
Simple to say when no travel allow then no more international visitors, most hotel accommodation are occupied by outside traveler or vacationer. When they stop coming so as the hotel’s incomes and revenues. Although hotels continue to stay open on pandemic crisis, they will need to bear the no-revenue outcome each day or even the months continue.
Paying the workers, electric bills that sometime amount to hundred thousand for large hotel on monthly or daily basis, maintenance fee and many other expense, keeping a hotel afloat during ‘no-revenue’ crisis is unbearable. One of the reason why many are force to take a leave without pay and some hotel even halve their employment staff due to the expectation of crisis will prolong for a 6-12 months or even longer.
Food and Beverage
Actually to my surprise, food and beverage service can still operate during pandemic. With the option of “direct delivery services”, people can still enjoy their favorite food and drinks even when they’re at home.
However not all restaurant or food services provide delivery service and when they don’t, they’re losing income each day pass. Imagine if a luxury restaurant normal gross income is around $1000 per-day and they do not adapt to delivery service during pandemic and decided to wait it out or wait for dine-in customers only. According to Forbes, dine-in only restaurant service can expect a huge 80% drop on customers during pandemic so they can expect $20,000-$30,000 loss income each months. After cut out the pay for employees and utility bills etc, owners might need to cover up the expense with their own money.
Farm, Crop and Flower
Yes, you’ve heard it that thousand of farms crops and flowers were demolished in the light of coronavirus pandemic. Netherlands destroy almost 140 million of Dutch tulip due to the pandemic crisis and farmers around the world force to destroy their own crops and face hunger as coronavirus ravaged through the food market. This result in lost of their only incomes and all the hard work they’ve done through out the year for the expected revenues coming from selling the crops and flowers.
There’s a saying – “Music is life”, well its proven to be true. Even during lockdown or stay at home order, musician or known artist still offering the enjoyment of music through online concert.
With entertainment outlet such as bar and pub closing their door, people still want to enjoy a pint of cold one and listen to music, i don’t know about you but i for one don’t mind get a cold one and watching live concert in my pj 🙂 ok i might dress up if its Taylor swift’s online concert.
When facing crisis, we human shall adapt and survive
Take aside those with savings that can survive even without work within 1 year. People (human) strong will to survive will shine in time of crisis. When you cannot cross a river, build a bridge, that’s what history teach us about solution and survival. During this pandemic, people had been finding alternate solution to provide for family or stay afloat their business as much as possible until everything back to normal.
Here are few interesting finds around the world that resolve to weird and alternate solution to their current situation.
- Airport now using air field as open area outdoor cinema with entrance fee of course.
- Farmer and fisherman using local ecommerce platform to sell and deliver their crop and fish to buyer locally with the service of delivery and transport (may or may not) provide by the ecommerce platform.
- Social distance in school, student’s table now have distance range between 1-2 meter. In China, they even invented a hat that stretch out so one person cannot be too close to each other.
- Work from home is now the new norm, with the ability to use live video conference such as Zoom, employer and employee now can interact with each other without leaving their home.
- Same goes for education, online classes had been adapted to face the absence of schooling. Teachers now can provide one on one or multiple students in live classes online using video conference apps.
The new norm in life
- Face mask and hand sanitizer in now the new protection
- Social distancing is the new social practice
- Shake hands now too risky
- Coughing will get you in trouble
- Remote or home working now apply in company policy
- Cash sometime rejected, digital currency or credit/debit card preferred
- The demand of luxury items decline
- The demand of electronic for home, work and entertainment such as gaming increase