On Monday the 9th November it was announced by pharmaceutical giant Pfizer that early trials of a potential new coronavirus vaccine showed that the shot is over 90% effective.
The world is currently waiting with fingers crossed for the rollout of the vaccine. An end to the pandemic – or at least a powerful weapon with which to fight it – will have many effects on almost every aspect of society.
At the top of most people’s lists of what to look forward to will probably be spending time in the physical company of loved ones, and shortly behind that, potential economic opportunities are also likely to be high on the list. But how might the vaccine affect the business world, and what might career and business opportunities look like in a post-pandemic world?
Hospitality and Entertainment
Some things are likely to return fairly quickly to how they were pre-COVID. Some industries are even likely to experience a significant boom. The hospitality and entertainment industries are likely to experience a rush of business once people are able to return to restaurants and bars safely.
Of course, many people will likely be cautious and even feel daunted by the idea of being in a crowd of strangers, but there will most likely be more than enough people who can’t wait to celebrate!
Unfortunately, the pandemic has taken a significant toll on businesses in hospitality and entertainment, and many that have closed their doors are unfortunately likely to remain closed. Whether governments are likely to offer stimulus packages and recovery plans to these sectors will vary across different parts of the world.
The retail sector is one that is likely to see a rush once the vaccine is widely available, as shoppers will be eager to return to their favorite outlets. However, the profits taken by retailers may not surge as sharply as those of hospitality and entertainment, as the sector was better able to transition to an online business model that had already been rapidly growing for years before the pandemic.
Many consumers may have enjoyed the advantages of ordering from home enough that they are in no rush to head back to physical stores.
The e-commerce business model, which was already taking an increasing share of the retail sector each year, is very unlikely to take much of a hit once the shopping malls open again. If you are considering starting an e-commerce business in 2021, companies like clickintelligence.co.uk provide full digital marketing strategies.
The finance industry and stock market are difficult to predict under any circumstances. While there is likely to be a rise in share prices across the board once things start to return to “normal”, it is also possible that the pandemic could shake confidence in the economy’s ability to remain stable over the long term.
Investors may be fearing the arrival of a new pandemic in the future, and this expectation could well lead to reduced investment and a greater deal of caution. The differing rates at which different countries get back on their feet economically may also shake up currency exchange rates in a range of ways!