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We all moved online due to the pandemic. Your grocer moved online. Your favorite clothing store moved online (if it wasn’t already there). You switched your cinema for Netflix and HBO. Your work moved online.

The era of remote work and endless Zoom meetings started and we needed to adapt to all that. Even after lockdowns, we are still mostly functioning in the virtual world. This “move” brought with itself some perks, but also new challenges. We may have cut our transport costs, but there are also difficulties we didn’t face before. The “new normalcy” infused our daily lives at large.

Pandemic and Economic Challenges

The economy took the hardest punch. Tourism is one of the industries that suffered the most and its recovery will be a long and painful one. The problem with the coronavirus is that it is unpredictable and we may be facing even more waves of infection. 

Some industries managed to strike back and by moving online reduced the heavy impact of the pandemic. For those who couldn’t adapt as fast to the “new normalcy”, this period has been truly devastating. 

We don’t know what the future holds, but we know one thing for sure: the politicians will have to re-assess the severity of this pandemic and turn towards finding the right solutions for controlling the virus and for recovering the economy.

On the Brink of “De-Globalization”

“We are all in this together” was the message that companies broadcasted over and over again. But are we? 

We needed a tragedy such as the coronavirus to see that our bonds are not that strong as we previously thought. Supplies were scarce, post offices were on the brink of collapse, and delivery systems showed their flaws. Even economic ties between countries were disrupted and everything was put on hold.

Is this leading towards a phenomenon that some experts named “de-globalization”? Should we focus only on our own manpower and our own production? This is a complicated question, but the answer to it will need to wait. Time will tell what the best steps need to be taken and if the “de-globalization” is actually one of them.

Digital Technology: Friend or Foe

We already mentioned that we practically moved online. But even as the online domain has its numerous advantages, dangers are lurking there as well. Cyberattacks, identity thefts, invasion of privacy; the Internet is not the safest place around and with the new challenges and our constant “online” status, we are prone to forget that fact.

However, it seems that companies focused mainly on the digital segment of their businesses managed to leave the corona crisis scratch-free. IT companies, e-commerce, businesses that offer online-specific services have already been online, so this new climate wasn’t all that new for them.

However, this transition has for some been a complicated, but necessary process.

Turning Towards Green Technologies

The focus on green technologies was present even before the pandemic. But these unprecedented times are an additional boost to find new alternatives to old ways of functioning. Young startups are especially vulnerable as they need to find their footing when developing these ground-breaking technologies. Therefore, they need a helping hand when it comes to business development and funding their ideas.  

Socially responsible projects are also gaining traction and something that companies are turning towards. Starting with positive changes, giving contributions to society, and being active in environmental protection are all important steps that have been taken and should continue to be a part of our “new normalcy”.