The Effect of COVID-19 Pandemic on Different Industries

Abstract

The emergence of Covid-19 has dramatically impacted many people’s lives in different aspects. Among them, economic development has been hit enormously. In order to prevent the continued spread of the disease, some people choose to self-isolate, and the government has announced tons of public health restrictions, which shuttered a large number of businesses. Many factories and enterprises fail one after another, and millions of employees are forced to lose their work. However, every coin has two sides. From another point of view, the opportunities brought by the epidemic cannot be ignored. Due to the demand to avoid infection, many online internet industries have been developing rapidly to satisfy the increasing need under this circumstance. This article aims to provide a report on the negative and positive impact of COVID-19 on the different industries short run and also forecast the effect and development in the long run [1].