Will we be back to business as usual after Corona? As history tells us, in many areas presumably yes.
But where will we see changes?
My thoughts in the following bullet points. The order has no significance in terms of importance or probability.
- Digital-only business models will also become the norm in industries where this is not yet the case, because people got used to it during the crisis.
- Home office and home education will become part of business as usual.
Business life / Travel
- We are just about to experience that lots of business travel and meetings are overrated and more efficient when being done online. Cost-conscious companies (ie practically all) will reduce their business travel after the crisis.
- Airlines (those who survive the crisis) will therefore have less business, so leisure trips will also become more expensive, as economies of scale diminish. Air travel in general will become again a bit exclusive, as it once used to be.
- It obviously will have quite an impact on the tourism industry. Exotic and far away locations will be in less demand and vice versa.
- Business continuity programs will have a higher priority in management.
- Supply chains for critical parts will be arranged more locally wherever possible for the sake of greater independence and higher resilience.
- The health sector and jobs (especially emergency and scientific) will be more valued. Higher portions of public spending will be allocated to these areas.
- Production of critical goods like medicines and medical equipment will be brought back to the national level, if needed with state subsidies.
- Hygiene will be taken more seriously in every aspect of life especially in emerging economies.
- All the above stated points will lead to less long distance transportation. This will have a positive impact for the environment.
In my personal view all above stated points will lead to a better world, so the crisis will maybe have a positive impact after all.
But unfortunately there are also political changes possible, which are at least as far as I am concerned, not very pleasing.
- The already ongoing process of nationalism is being strengthened. The crisis has already shown clearly that each country has set its own priorities first.
- Digital technology can undoubtedly help fight the pandemic, but there is a risk of increased digital surveillance if not properly implemented and in accordance with privacy laws.
Any other ideas?