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COVID-19: Five Sectors That Are Booming Despite Fears Of An Economic Downturn

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We are living in unprecedented times. The COVID-19 outbreak threatens to change the way we look at the world and the economies that function within it. Government closures and other drastic measures have seen some sectors collapse, only surviving thanks to state intervention.

However, some businesses are experiencing unsurprisingly busy times, with some sectors actually becoming overwhelmed with current demand.

With Malta’s residents now mostly stuck indoors, a new space for business has opened up. Lovin Malta reached out to some companies to take a look at what is booming:

1. Deliveries 

Bars and restaurants were some of the first industries to shut its doors due to the COVID-19 outbreak. However, it hasn’t stopped others picking up the scraps. People have started ordering food in its droves, with many restaurants turning to either a delivery or takeaway service.

2. Cooking Supplies 

It might seem strange, but ingredients for baking like flour or yeast have been flying off the shelves. With people stuck indoors, they’ve turned to cooking to pass the time. Cooking is an art and why not get good at it when you’ve got time on your hands.

It’s not just baking, raw ingredients have been flooding shopping carts, and it’s not just for stockpiling for COVID-19 lockdown. Learning a new recipe is a great way to enhance your skills, especially for a nation full of keen eaters.

3. Games and Crafts

People are doing all they can to keep their minds and their bodies active.

Monopoly, UNO, puzzles and others have stopped gathering dust and made their way back into our homes.

Others have taken up sewing and knitting or forgotten artistic skills as a way to beat the boredom of confinement.

4. Books 

Streaming platforms are just a click away. There’s a wealth of amazing content at our fingertips (See Tiger King), but people finally have the time on their hands to settle down with a good book.

Epidemics seem to be all the rage. According to the BBC, sales of Albert Camus’ ‘The Plague’ has increased by 150%. Meanwhile, ‘The Eyes of Darkness’ by Dean Koontz which features a virus called Wuhan-400 is up to number two on Amazon UK.

5. Cleaning materials and toilet paper

Things are going well for companies who either produce or import cleaning product. Items like disinfection wipes, sanitizers, and others are very much in demand right now. Stocks are moving soon after their arrival.

Toilet paper, a vital necessity for everyone, is becoming a point of tension across the globe. People have been scrambling to get their hands on a coveted roll. Some countries have even rolled out restrictions. Malta’s supply, despite selling like wildfire, appears to be safe for now.

But people are still struggling. 

The upturn might be positive, but the businesses who are doing well remain in danger.

Manufacturing and importation of goods remains significant concerns for any business on the island.  Meanwhile, around 120,000 workers have been left in limbo after their workplaces had to be shut down as part of government restrictions, a huge struggle for many families on the island.

Despite the government keeping essential travel for goods open, an incoming global recession is already seeing transport costs increase significantly. Factories closing across the continent is only creating further issues.

The United States is also facing a major outbreak of COVID-19. If the economy of the world’s economic leader crashes, its repercussions could be felt for years to come.

READ NEXT: ‘My Company Is Forcing Me To Work In An Office With 50 Other People In Malta'

Julian is the former editor of Lovin Malta and has a particular interest in politics, the environment, social issues, and human interest stories.

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