The escalation around Iran has already extended far beyond the region and is beginning to exert a systemic impact on the global economy. WEALTH Navigator magazine has compiled data on the sectors that have sustained the most significant damage.
Oil and gas
Up to 25–30% of global oil supply and around 20% of LNG transit through the Strait of Hormuz, and its effective closure has triggered the most severe market disruption in decades. Against this backdrop, analysts allow for a short-term price spike to $200 per barrel, while damage to regional infrastructure suggests that a risk premium will persist in prices even after the conflict subsides.
Food and fertilizers
The food sector has also come under significant pressure: up to 30% of global fertilizer supplies pass through the region, and prices surged by 19–28% in the first weeks of the crisis alone. This directly impacts agriculture, as farmers begin to cut back on fertilizer use, leading to declining yields. According to international organizations, in the event of a prolonged conflict, the number of people at risk of hunger could increase from 318 million to 363 million.
Metallurgy
The Middle East is a key aluminum producer, and plant shutdowns are raising the risk of supply shortages and price increases. An additional factor is the disruption of Iranian steel exports, which previously amounted to 11–12 million tons annually. Price gains are already being recorded, while logistical disruptions are spilling over into other commodity markets.
Air transport and tourism
A parallel crisis is unfolding in transport and tourism. Major regional aviation hubs are experiencing disruptions, airlines have cut flights by 40–64%, and total available capacity has declined by 1.7 million seats. Losses in the tourism sector are estimated at no less than $600 million per day, while travel bookings to the region have effectively collapsed.
Luxury market
The luxury sector has also been hit harder than expected. Within weeks, it has lost around $100 billion in market capitalization: shares of leading brands such as LVMH and Hermès have dropped sharply, reaching record lows. The downturn reflects the sector’s strong dependence on the global mobility of affluent consumers and on the Middle Eastern market, which until recently had been among the fastest-growing.
Overall, the crisis is affecting multiple key sectors simultaneously—energy, food, industry, transport, and consumer markets. This represents a classic supply shock, driving up costs, fueling inflation, and disrupting global supply chains. According to analysts, its effects are likely to persist well beyond the end of the conflict.
