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Industries That Are Most Likely To Thrive Post-Pandemic

For inspiration to get back on your feet, these are some of the industries expected to thrive in a post-COVID world.

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Many industries today have transitioned to the digitalization of workplace practices to deal with the economic decline caused by COVID-19. This move increased the demand for enhanced digital skills and capabilities to support business operations, in turn allowing more people to keep their jobs. 

The need for stronger cybersecurity is also becoming more vital, as people rely on online platforms to backup their physical stores and offices. For this, many look for property insurance in the Philippines to increase their financial security and lessen their troubles.

As many industries slowly get back on their feet, these are the most promising ones expected to thrive in a post-COVID world:

Healthcare

March 2021 data from the World Health Organization (WHO) shows that there have been around 13,000 deaths in the Philippines from almost 700,000 confirmed COVID-19 cases and counting. For many, this increasing number of casualties encourages widespread awareness of our country’s strengths and weaknesses in terms of healthcare. 

The pandemic has shown us how significant it is to continually invest in the health sector. Following the coronavirus, it is expected that manufacturers for vaccines, pharmaceuticals, PPEs, and the like would still boom in the years to come.

E-commerce and Delivery

In 2020, the Department of Trade and Industry (DTI) stated that around 90,000 businesses of mostly micro, small, and medium enterprises have closed. So if you want to keep your source of income running, shifting to an improved business model is a must.

That said, shopping for essentials online and availing contactless payments have been proving themselves safer and more preferable today. It is highly probable that this consumer mindset would not cease nor change easily post-pandemic.

Online Education

Based on a survey from the Asian Development Bank last year, nearly 5 out of 10 Filipino households are with children who have stopped going to school. This has dramatically changed how our education has resumed, and many institutions are still managing their classes online. 

While there are constant challenges in training educators and having stable internet connection, accelerating the integration of information technology on our education still presents greater opportunities. Traditional offline learning partnered with e-learning would give more students a safer chance to be educated after this crisis.

Remote Work

BCG’s Workplace of the Future survey reveals that companies expect approximately 40% of employees to utilize a remote working model in the future. Moreover, 37% of companies expect that a quarter of employees will work in hybrid models that combine remote and onsite work. Not only this speeds up trends in productivity software development for communication tools, but also in the shift to enterprise virtual reality (VR) industry for training and events.

Overall, crises have a way of hasting changes and reshaping strategies that could eventually be permanent. Things may never be the same, but we can still adapt to other opportunities present. It helps to always be in the know, and acquire non-life insurance in the Philippines today for extensive coverage.