Let's face it: unless a vaccine is developed soon, life in 2020 and beyond will no longer be the same. Even if the lock-down restrictions are lifted, we will continue to be affected in many ways.
Here are eight things that will change forever post-Coronavirus pandemic.
1. Countries Will Focus More On Better Healthcare Facilities
Healthcare budgets will be substantially higher than previous years throughout the world, and reforms will pave the way for the better.
2. Cinemas, Theaters and Stadiums May Continue To Remain Empty
Since most people will stay focused on maintaining social distancing, they will look to avoid cinema halls, theaters and stadiums, where the risk of spreading infection is high. We've already seen the Olympics being postponed, and we may continue to see further job losses in the sports and entertainment industry. You may see a higher number of movies being released and premiered on online platforms like Netflix, Amazon Prime, YouTube etc.
3. Airlines Will Go Bankrupt
The majority of airlines have not had any business for several weeks, and most do not have enough cash to pay employees. Things are expected to improve, but not substantially, as people may refrain from traveling like they used to before the pandemic. There is a chance that a lot of airlines will go bankrupt.
4. The Rise of Online Meetings
Online meetings have increased substantially, and several large tech companies, including Twitter, have permanently switched to the 'Work from Home' concept for employees. The 'Work from Home' trend is expected to become the norm, and this is expected to make the rush hour history.
5. Commercial Property Prices Will Fall
Since most companies are switching to work from home, they will no longer need to have large offices permanently. This could lead to them selling off real estate assets or emptying offices, which will cause a substantial drop in commercial property prices.
6. You May Experience Less Traffic
Traffic jams may not be as frequent as they used to be before the COVID-19 pandemic. With more people switching to work from home and traveling less often, you will see substantially less traffic.
7. Online Courses and Virtual lessons Will Become The Norm
Schools and colleges throughout the world have remained closed for several weeks. Teaching has moved online on a large scale that has never been seen before, and people have started switching to online courses to up-skill themselves. Most universities will have a far lower number of international students, which may cause job losses in the education sector in certain pockets.
8. A Lot of Small Businesses May Cease To Exist
When it comes to business during tough times, it's the fittest that survives. Large companies that have enough cash at hand and are profitable may be able to weather the storm. Small ones, however, may cease to exist due to falling sales and rising competition. Remember, a lot of people have been made redundant already and then don't have a lot to spend. Therefore, a large number of small businesses may close down.
