Improving professional skills
The COVID-19 pandemic dealt a devastating blow to the labor market. A lot of people have lost jobs. So, once the shutdown is over, they will rush to search for a new job. Most of the unemployed are ready to pick up other qualifications which will enable them to set about remote work or freelance at several companies in parallel. Such activities are Internet-related jobs like programming, web design, SEO, SMM, copywriting, managing web resources etc. Experts warn of fierce competition among these specialists.
Demand for unqualified labor
Apart from developing new professional skills by people with intellectual background, a lot of people will have to put up with an unqualified job. Experts predict high demand for unqualified workers in the wake of the pandemic. Besides, experts do not rule out radical changes in the labor market. Employers will be poised to hire mainly locals. So, labor migrants will find it more difficult to seek their fortune abroad.
Triumph of delivery companies
Analysts are certain that companies delivering consumer goods and food will definitely hit the jackpot. This business is sure to be at the forefront of the service sector in all countries in the nearest years. The delivery business gained enormous popularity during the pandemic when most countries introduced strict lockdown.
Ban on holidaymaking
People will have to cancel their plans to travel overseas. Analysts say that the holidaymaking sector and air companies will be forced to scale down business in all countries. Experts do not rule out several waves of the COVID-19 pandemic. In the worse-case scenario, partial restrictions on the international passenger traffic will remain in force in 2021 and 2022.
Disruptions in logistic and technological chains
Experts foresee unwelcome changes in the car manufacturing industry and the market of home electronics. Analysts reckon that automakers and auto dealers will encounter serious troubles in sales. On the contrary, sellers of used cars are expected to raise their revenue. Experts warn that new waves of the pandemic will complicate reviving logistic and technological chains to the pre-crisis level. Therefore, consumers could complain about shortage of home electronics.
Bankruptcies of banks
The fallout from the pandemic will cast a shadow over the financial sector, primarily banks. In case authorities insist on repayment holidays for mortgage holders or private borrowers, these measures will entail bankruptcies of a large number of banks. Small and mid-sized lending institutions will be the first to bear the brunt of it. The current malaise in the bank sector is worsened by pessimistic sentiment of deposit owners who rush to withdraw their savings.