COVID-19 Impact: Industries, Part 1
COVID-19 has severely impacted automotive manufacturing, hospitality, and the air travel industry globally, leading to the shutting down of automotive manufacturing plants, closure of hotels worldwide, and several other losses.
- In an article published on April 27, 2020, AUTOCAR discussed the severe impact of the COVID-19 on the global automotive manufacturing industry. The article details how all automotive manufacturing plants have been shut down all over the world. The article also provided a timeline explaining the various impacts the COVID-19 has brought to the industry.
- Accenture, in a report provided in April 2020, discussed how the industry is facing a complete shutdown of production plants. The article considered the shutdown of manufacturing plants as a step to secure liquidity to avoid overproduction as the sales are decreased.
- WardsAuto, in an article published on April 24, 2020, discussed how thousands of suppliers and sub-suppliers are being directly impacted due to the shut down of plants globally in the automotive manufacturing industry. The article also discusses various issues the industry is facing because of various restrictions on public life.
- In an article published on April 9, 2020, Hospitality Net discussed several impacts COVID-19 has brought to the hospitality industry, specifically hotels. The article detailed how hotels are finding themselves empty and are offering their premises to house healthcare staff or hospital patients not suffering from coronavirus.
- PR Newswire, in a report published on April 16, 2020, discussed the effects of COVID-19 on the hospitality industry all over the world. The report also throws light on how several hotels are facing sudden mass cancellations due to the COVID-19 pandemic.
- Hospitality Net in another article published on April 8, 2020, discussed how the COVID-19 pandemic caused the occupancy rate of all hotels worldwide to drop rapidly.
- Timeshare Termination Team, in an article published on April 1, 2020, discussed how the inability of people to travel due to the COVID-19 pandemic has affected the timeshares industry including the shut down of resorts worldwide.
Air Travel (FBOs)
- Aviation Pros in an article published on April 8, 2020, discussed how the FBOs are observing a slow down in traffic and fuel sales due to the COVID-19 pandemic. The article also discussed how FBOs are searching for different ways to fuel their revenue.
For the timeshare industry, we were unable to gather more than one article specifically focusing on the impact of COVID-19 and/or how the industry is mitigating the risks associated with the pandemic as the majority of the sources we searched through including press releases, industry experts posts, and others either focused on the market overview of the timeshare industry or were paywalled. For the air travel industry specifically FBOs, there is little information available publicly since the majority of the articles that we encountered either focused on the market size overview of the industry or survey report for a particular country like the United States without any focus on the impact of COVID-19 pandemic on FBOs globally. We even expanded our focus to more than 60 days but were unable to gather any relevant articles.