Winning and Falling Business Sector Due to COVID-19

The COVID-19 pandemic has influenced various sectors in human life, especially the economic sector. The call to keep #dirumahaja made most of the production and distribution activities must cease. All that was done in order to break the chain of the spread of Corona virus.

Interestingly, not all economic sectors must be toppled by this virus. In fact, some economic sectors can ‘win’ and reap the benefits behind the ongoing COVID-19 pandemic.

Immediately, the following sectors that have the potential to win and fall due to COVID-19.

Potential Sectors That Fall Due to COVID-19

There are 7 sectors that could potentially fall during the COVID-19 pandemic according to the EFC Dcode as follows.

Tourism

The tourism sector is clearly experiencing the greatest losses due to this pandemic. Moreover, people with COVID-19 have been confirmed to be spread in more than 150 countries around the world. Indicates that this sector can only bounce back if the spread of the Corona virus has really been successfully controlled.

Sea and Air Transportation

In the absence of tourism activities, the sea and air transportation sector has lost its users. Only traffic to send stock of medical equipment and basic necessities is allowed and the amount is monitored. So, don’t be surprised if many workers from this sector must be laid off for several months to come.

Automotive

In order to prevent the increasingly massive spread of the Corona virus, human movement must be strictly limited. Consequently, modes of movement such as cars and motorcycles are not really needed at the present time.

Two-wheel and four-wheel manufacturers inevitably have to stop production temporarily. Automotive sales and exports are also predicted to continue to slow down until the pandemic subsides.

Construction and Housing

Corona virus that threatens human life makes infrastructure development must succumb first in the priority scale. The sector, which is mostly filled by informal workers, has to lay off a large portion of its workers due to projects that were interrupted during the pandemic.

Non-essential Manufacturing

What is meant by non-essential manufacturing industry is an industry that produces goods that are not directly related to handling COVID-19. Examples such as the textile industry and electronic components. The low demand inevitably makes this industry potentially collapse during the pandemic status.

Financial services

The number of workers laid off makes people have to think twice or more to borrow from the bank. As long as there are no guarantees that can protect the rights of both parties, the financial services sector is expected to fall during the Corona pandemic.

Education

The closure of schools and universities made the education sector less enthusiastic. Teaching and learning process can still take place online (online). But educational services that require face to face may not be implemented as long as the Corona virus is still spreading.

Potentially Winning Sectors Due to COVID-19

As for the EFC Dcode, here are 3 sectors that are expected to ‘win’ during the COVID-19 pandemic.

Health Equipment and Services

The need for doctors and health workers has jumped sharply due to the current pandemic. Emergency recruiting was carried out in order to have a sufficient stock of human resources. Not to mention the need for Personal Protective Equipment (PPE) and tools such as ventilators that are increasingly urgent. Making this one sector is certain to ‘make a profit’ due to COVID-19.

Food Retail and Processing

The obligation to stay at home makes the community must be smart to manage food stocks and daily needs in their homes. The FMCG (Fast Moving Consumer Goods) industry is expected to achieve maximum profits, especially from food processing products.

Health and Personal Hygiene

In order to protect themselves from the Corona virus, people are asked to maintain personal and family health and hygiene. As a result, demand in this sector also skyrocketed. This includes home industries and MSMEs that produce hand sanitizers, soaps, and others.