Every major crisis brings a change in the attitude of people and the way they deal with the issues on a daily basis and COVID-19 pandemic is no different. As the governments across the world announced severe lockdowns to control the spread of COVID-19 virus, companies started looking for alternatives for their employees to work from home. Many companies had to ask their workforce to work from home during the lockdowns. This resulted in higher demand for IT services, networks with faster speed and better computing devices.
However, work from home could become a trend in many sectors in the future. For certain sectors, where direct interaction with clients isnt needed, working from home offers a low-cost alternative. Working from home is comfortable for many professionals like computer programmers, freelancers or content writers and sales staff. Work from home also allows many individuals with limited options for mobility as an option to work, especially women who care for small children. It also saves time people spend for commuting to work.
Real estate market experts feel that working from home culture could also impact the demand for commercial real estate and office spaces in bigger cities.
While digital nomad culture was already growing before COVID-19 pandemic, the situation is in its favor now. Many people are considering work from anywhere as a permanent way to work. This option offers a lot of flexibility to the workforce. They can be location independent. Many people can work from low cost destinations, holiday destinations or even from Caribbean islands. As per data, people working in technology sector in Silicon Valley get paid really well but they are hardly meeting ends as the real estate prices or rents are massive compared to smaller cities across the United States.
Many industries suffered a major shock due to pandemic but a positive impact of COVID-19 pandemic was seen for online brokerages. Online brokerages witnessed a massive influx of new users and especially young traders with high risk appetite. Even groups (Wallstreetbets) of young investors on popular social media platforms have managed to pump up the prices of some stocks like Gamestop, AMC, Tesla Motors to name a few. These groups of investors have been in the news over the last few weeks and they are proving a major force against Wall Street whales.
The rise in online trading has resulted in higher valuations for many online brokerages. As youngsters stayed at home, online gaming, sports betting and online casino platforms have also witnessed a strong growth in their user base. In India, many platforms have witnessed higher user interest. Bettors can bet on sports events and play online baccarat in India with reliable platforms that offer quick deposit and withdrawal options in Indian currency.
With COVID-19 vaccine available in many countries, health authorities are confident that situation will be under control in the upcoming months. Travel sector, hotels, aviation and many other industries will have to evolve with time and get used to the new realities after COVID-19 pandemic. Human race has witnessed many difficult situations in the past and with positive attitude, hope and helping attitude, we can come out of this crisis as well. Once COVID-19 pandemic is under control, we can expect many sectors to grow at a rapid pace.