The COVID-19 virus has changed the world since it appeared in our lives. As an intelligent social species, our entire existence revolved around social interactions at work, public spaces, and even confrontations. The pandemic has meant that we now observe social distancing an alien concept for the vast majority of humanity.
Unlike in the past, many of us are now required to work from home, stay away from friends, and only go out when it is absolutely necessary, all of which have changed our family and social dynamics. The impact on human activity and pollution levels across the world is significant – time to re think the way we work and change our habits to protect our Green Earth.
There is a lot more change on the horizon, much of which will carry over to the post-COVID-19 world.
Many of Us Will Probably Continue Working from Home
We haven’t probably realized the amount of time and money that’s saved when working from home. Not only do individuals save, but so do businesses. All a company has to do is assign their employee a laptop and probably pay for their internet connection. That’s a lot better than having to pay office rent, for broadband, office maintenance, and even transportation.
Once people get the hang of working from home, few may probably want to return to the regular workplace. However, many like in the hospitality industry may have no choice but to return, but those industries don’t make up the majority of our global economy. So, working from home will probably be a new norm, many embrace.
We May Choose to Become Less Dependent on Offshore Manufacturing
Many in the first world rely on countries like China, Malaysia, and Indonesia, amongst others, for their manufacturing. However, the pandemic has awoken the need and the benefit of onshore manufacturing. Countries like the United States, UK, and Europe, in general, may probably pivot to manufacturing 50% of what they sell locally. That would mean more jobs, and the need to train local labor.
Countries that are currently the manufacturing hub for the first world may, in turn, have to rethink their financial strategies. Countries like China will then need to focus on building brands, value, and innovation, which drives them to success in competing markets.
Boom in Electronic Transactions and Currency
Whether it is a dollar or a few hundred dollars, the post-COVID-19 world will be more about electronic payments. It appears as though currency, as we knew it for so many centuries, will shift almost completely online. Since cash is now seen as being a potential carrier of the virus, people are choosing to use their contactless transactions to pay for everything.
Contactless transactions will become the new norm, even for people who seldom used it. Third world countries that have traditionally been cash hubs will also shift the majority of their payments online or use various electronic alternatives.
Being Global is Now the Focus
Businesses will become increasingly global. There is going to be a growing dependence on businesses to be able to cater to the local community. That will mean understanding and communicating in the local language and using local lingo. So, now more than ever before, businesses will rely on translation services. That’s why many translation services are seeing an increasing number of businesses localizing their websites, and other material for a myriad of international markets.