Top 5 industries resistant to pandemics | Global Finances
Author: Emily cashen
March 22, 2021
The COVID-19 pandemic has dealt a cruel blow to businesses over the past 12 months, with entire industries effectively being put on hiatus and little indication of when they might reopen. Travel, hospitality, entertainment and the arts are among the hardest hit sectors, being essentially unable to function as countries around the world move in and out of restrictive national lockdowns. But where some industries have struggled, others have thrived, with repeated blockages creating no obstacle to their success. As vaccines begin to take effect and the global economy begins to temporarily recover in 2021, there are a handful of industries that have proven to be pandemic-proof, able to withstand last year’s shocks. and put themselves in a position of strength. as the world looks to a post-Covid future. Here, Global Finances examines five of these pandemic-proof industries.
1 – Real estate
COVID-19 has plunged the world into a deep recession – the worst since the Great Depression of the 1930s. Layoffs and reduced wages have unfortunately become all too common in households around the world, but even with families feeling the pinch. the pandemic, the demand for housing has skyrocketed. With the WFH becoming the new normal, people have reconsidered their living conditions, seeking to relocate from city centers and showing increasing interest in large properties with outdoor space. This so-called “space race” has driven up house prices, creating a “Covid boom” for the real estate industry. In October 2020, UK house prices rose at their fastest pace in four years, the mortgage lender Halifax confirms that the average price of a house had reached £ 250,000 for the first time in history. In the United States, meanwhile, 2020 saw home sales reach their highest level since 2006, showing increased demand on both sides of the Atlantic. Even as the world enters what is expected to be a long, slow recovery from the COVID-19 crisis, real estate agents are predicting that house prices will continue to rise, without the housing boom stopping.
2 – IT and digital services
This one is certainly no surprise. Since the start of the pandemic, we have become increasingly dependent on digital services – WFH, distance education and virtual socialization all depend on reliable, high-speed digital technologies. Even as the immunization program gains momentum around the world, offering a glimpse of a return to “normalcy”, it seems likely that our work habits will be permanently changed by the pandemic, with agile and flexible work. distance apparently there to stay. This is of course a real boon for the digital services industry, with major technologies seeing their profits soar since the start of the pandemic. Amazon’s cloud computing arm – Amazon Web Services – helped propel the company to a record profit of $ 6.3 billion in the third quarter of 2020, as businesses around the world continue to migrate to digital. Apple also posted record revenues of $ 59.7 billion in its fiscal third quarter, and more than 3.3 billion people now use a Facebook-owned app at least once a month, media use social services exploding during the pandemic. Records like these show that technology companies are not only pandemic-proof, but also profitable in a pandemic.
3 – Building
While stop-start lockdowns crippled many industries, work continued steadily in the construction sector – although not quite “as usual”. In the UK, construction sites have been allowed to remain open during the country’s three nationwide closures since March 2020, and despite a contraction in the spring, the sector has rebounded at a remarkable pace. A boom in infrastructure projects has seen construction work reach pre-pandemic levels, with increased demand for housing fueling an increase in new projects. In November 2020, the value of all construction work in the UK reached £ 14.01 billion – the highest level since January 2020 before the lockdown. In the United States, construction projects have also continued unabated in most parts of the country, with 18.3% of construction companies. claiming in a recent JustBusiness survey that the pandemic had had no impact, or a positive impact on their production.
4 – Electronic commerce
The world of retail has been completely transformed by the pandemic. Government-imposed lockdowns, social distancing measures and concerns over COVID-19 have seen footfall in traditional brick-and-mortar stores drop to record levels. Unsurprisingly, as physical stores suffered, e-commerce operations exploded, with data from the National Statistics Office showing that online sales grew 24% in the UK in 2020. To put that figure in perspective, before the pandemic, online shopping was increasing at an estimated rate of 4.5% globally, showing at what point the pandemic ushered in the era of electronic commerce. According to a new IBM report, the pandemic has accelerated the shift from physical stores to e-commerce by about five years – and many believe this will be a permanent change in consumer behavior.
5 – Pharmaceutical products
Before this year, how many of us could have put together a list of pharmaceutical companies from memory? Moderna, Pfizer, and AstraZeneca may be as familiar to us as Coca-Cola, Disney, and Nike. The pharmaceutical industry has taken center stage this year, playing a central role in the global fight against COVID-19. The world rejoiced at the discovery of several effective coronavirus vaccines, and the news skyrocketed pharmaceutical stocks in the second half of 2020. Additionally, the pandemic served to underscore the importance of the prevention, treatment and research of infectious diseases, with the drug discovery market is expected to be valued at $ 71 billion by 2050.