There isn’t a sector of the economy that hasn’t been adversely impacted by the COVID-19 pandemic. Of course, there are a few notable exceptions including hand sanitizer manufacturers, face mask purveyors, and the Reckitt Benckiser Group, makers of Lysol. But the vast majority of us have been reeling for almost a year with millions losing their jobs and effectively leaving them financially devastated.
Below we will discuss a few of the industries that have been most severely affected by the novel coronavirus and point out a few opportunities that people have explored to at least alleviate their financial woes while they get back on their feet.
Land-Based Casinos
There is a reason why most casinos have hotels attached to them, as there is nothing better than a captive audience with no place to go except an elevator ride upstairs. Thus, we can say the two go hand-in-hand which means both have suffered the same slings and arrows wrought by the global pandemic.
And while there has been some relaxation of the strict shutdown of casinos across the nation, there is still plenty of ground to cover before the numbers equal what they had been pre-pandemic. However, not all sportsbooks and casinos have been shuttered as the virtual world of online gambling is not only available but experiencing a surge in business due to the port in a storm mentality by those looking to make a wager.
And while many are simply recreational gamblers, sports betting can be a viable source to generate extra income. As counterintuitive as that seems, thousands upon thousands are embracing an old hobby that has gone mainstream. There are hundreds of online sportsbooks but not all are created equal so if you do decide to set aside a bankroll and explore the intriguing world of sports betting, make certain to do your homework and be sure the books you do business with have a proven track record of paying their customers when asked to do so.
After all, it’s one thing to sweat the game but never the payout!
Restaurants
For many months, restaurants were prohibited from in-house dining and thus relegated to take-out only. Entire staff were laid off and those who did remain were serving as curbside runners with no tips in the offing. Many mom-and-pop joints didn’t make it while those that are staying alive are either struggling to rebound or are on life support.
However, the news is not all bad as we turn the page on 2020 with the promise of several vaccines and a return to something resembling normal in 2021.
And with the advent of take-out, the demand for delivery drivers in the form of Uber Eats and others has exploded. Many people who never dreamed they would be delivery drivers have found a niche during the global pandemic and at least have a steady paycheck to show for it.
Hospitality Industry
Hotels, motels, bed-and-breakfasts, and vacation rentals have all been paralyzed since the global pandemic took hold and the siege has barely abated. We can lump the entire hospitality and travel industry in as well which has seen hundreds of thousands negatively impacted to one degree or another.
To give you some idea of just how severely COVID-19 has wreaked havoc with the hotel industry, the occupancy rate was only 44 percent with over one billion unsold room nights shattering the previous record of 786 million that went unsold during the global financial crisis of 2009.
