How Is The Corona Virus Going To Change The World?

Published on May 3rd, 2020 03:22 AM

Will the Corona Virus fundamentally change the world? I say no - because we do the things we do for various humans reasons - and none of those reasons have changed.

The world may seem more dangerous, but is it actually more dangerous? Driving long distance in Nigeria is actually quite dangerous, but people do it all the time. Because there is no real choice. After a Corona Vaccine has spread, there may be some fear, but there won't be any real and actual danger. And people will adapt to go back to doing things as they used to.

But what will actually change?

The Corona Virus is an economic shock. That means that a lot of businesses that were weak before will die. The talent that was tied up in those businesses will then be looking to join other businesses - and they will prefer more stable, bigger companies. We should expect stronger big business, and weaker small business.

Many people have learnt about working remote in this period. Many organisations too. We can expect the creation of a brand new market in that more people will start working from home.

A lot of older people have and will die. This will slightly help the demographic balance in many advanced economies. In developing economies, it will free up a lot of leadership spots for younger people, and accelerate the replacement of older leaders. We should expect more radical and 'change' politics in coming years.

The price of oil has dropped massively. A lot of countries are going to go into a sustained economic shock, and this could lead to revolutions or wars. The major oil producers of OPEC are in this list.

People being cooped up for so long means that they will want to travel. But destinations will change - before the idea of mingling with a lot of people was fun - now we have all been taught for a few months how dangerous this is. So expect more travel to hiking trails, forests, mountains, cabins and cycle tours. Nature travel is another big category that is coming up.

The forced stay-at-home means that many, many more people were educated on e-commerce. As the economy recovers, we should expect to see a growth in a lot of online services. The migration to online is going to accelerate, particularly in countries that have been offline first for a long time.

Generally, things will change, but the core of who we are will pretty much remain the same.