In the first few months of 2020, world leaders faced the prospect of excruciating decisions based on limited (and often conflicting) information about Coronavirus. Indeed, thelong-term health implications are still something of an unknown.
Sweeping global lockdowns appeared to be the best approach for limiting the virus’ spread. However, the impact on many industries was devastating. Businesses closed, jobs evaporated, and a cloud of uncertainty loomed over formerly vibrant economies the world over.
Despite the frequently grim news, some sectors have experienced growth because of the pernicious bug. Read on to discover five industries that are booming in the turbulent global economy:
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1. Online Content Creation
Global internet usage has skyrocketed across all platforms, resulting in a boost in demand for all aspects of content creation. Whether you’re a web copywriter, graphic designer, coder, or digital marketer, if you’re involved in the creation of online content, there’s an abundance of work opportunities waiting for you.
2. Delivery services
Many people have begun exercising great care with their spending, given the pandemic-inspired economic uncertainty. However, just as many are passing their time in lockdown by indulging in a bit of online shopping. Even among those who are sticking to a strict budget, the convenience and safety of home delivery is a big drawcard when they need to make essential purchases.
With online sales up 55% from July 2019 to July 2020, the demand for couriers has skyrocketed. Though growth in online shopping has dropped off slightly since lockdowns have eased, it seems likely that delivery services will be in high demand for the foreseeable future.
3. Gifts and promotional products
Since people are no longer able to socialize with friends, family, and customers freely, online businesses offering gifts and promotional products have seen an increase in sales. Mother’s Day and other special occasions created greater sales spikes in 2020 than they did in previous years. And the reasoning behind this makes sense – if you can’t express your love and gratitude in person, the next best thing is a thoughtful gift delivered safely to the recipient’s doorstep.
4. Online Education
From online tutoring and short courses to full tertiary degrees, the remote learning sector is experiencing massive demand across the board. High school students are taking advantage of tutors to make home-schooling more effective. Similarly, furloughed employees are keeping themselves occupied by upskilling with online courses. Many of those who have lost their jobs are heading back to college to open up new employment opportunities. Given the added flexibility and lower fees usually offered by online education platforms, it seems likely that this trend will outlast the pandemic.
5. Gaming
For many people, the coronavirus simultaneously shrunk their world and expanded their free time. With a much smaller map available in real life, it only made sense for people to satisfy their sense of adventure through gaming. From MMORPGs (Massive Multiplayer Online Role-Playing Games) to Nintendo, Playstation, and Xbox consoles, all sectors of the gaming industry have reported growth since the arrival of the pandemic. As technology develops to meet the demand, and VR headsets become more advanced, more growth in this industry will be inspired.
The success we’re witnessing in the industries listed above is proof of the resilience and adaptability of which the human race is capable. When faced with a crisis, we fight back, but we also transform.