Every major crisis brings in new challenges and we as a society have to evolve, to deal with the emergency situation. Covid-19 pandemic has taught us a few lessons and economists feel that it will have a lasting impact on how we conduct business in future and how companies deal with similar situations in future. As per estimates, it may take a few years for economy to bounce back to pre-Covid levels. The recent economic data from the US is indicating a faster than expected recovery. Many sectors will see a major impact of COVID-19 pandemic in the years to follow.
Technology Sector Will Emerge Stronger
Technology services sector has seen stronger growth during pandemic. Internet service providers registered growth in data usage as people shifted their meetings to zoom calls and other video conferencing platforms. Network services and technology support sector will see a growth in years to come as people shift their meetings online.
As per data, the sales for high end mobile devices and laptops have gone up during the pandemic. And, lower export volume of equipment from China during pandemic, has led to rise in prices for laptops.
Online Gaming, Casinos and Sports Betting Sector Registers Strong Demand
Online gaming and online casino segment was gaining market share even before COVID-19 pandemic but the lockdowns and closure of land-based casinos has shifted focus to online casino apps and websites. While the industry has faced a setback, the number of people joining online casino apps has been rising since March 2020, at a much faster pace. And, online casino platform operators have been improving their user interface, offering live dealer games. Indian bettors can check detailed top Indian casino reviews before they sign up for a service to place their bets and try their luck. Live dealer games, card games and sports betting options have been reviewed without any bias. Users can also check the best offers and free spins offered by casinos on Live Casino India. The online betting segment will surely see a stronger growth in years to come.
Commercial Real Estate Could See Lower Demand in Future
As companies shifted to work from home culture during COVID-19 emergency situation in March 2020, everyone was expecting that this would be a short-term measure as the virus spread could be controlled. However, a year later, we are still facing lockdowns in many regions as second and third waves of COVID-19 infections emerge. Management of many companies is considering work from home as a permanent option for some people in their staff. Real estate experts believe that this could reduce the demand for commercial real estate and office space in many big cities. It is no secret that companies operating in Silicon Valley offer good salaries to their employees. But, the cost of residential real estate or rent in these regions is so high that many employees in these companies are hardly meeting the ends. A major part of their salary goes in paying rent and taxes.
As per data, it is much cheaper to live in many small cities across the United States and companies could shift to work from home model for many employees to save costs in future. And, the pandemic has taught us that work from home is a viable option for many employees.
HealthCare and Supplements
As people want to improve their immunity and well-being, sales for supplements and superfoods have seen a strong growth during the recent months. The healthcare and supplements sector is upbeat about growth in coming years.
Travel and Tourism Sector
While people want to travel, the troubled introduction of vaccination programs has left travel sector wondering if growth will return in 2021. The upcoming holiday season could face lower demand as European and North American government are still dealing with higher infection levels.
As the situation with pandemic evolves, we might see many other changes in the way people react to the changing business and social environment.