Page 8 - FDI Alliance International Magazine. Spring 2021 Digital Interactive Issue

GAME CHANGING IMPLICATIONS OF THE PANDEMIC

THE ECONOMY: first as bars, restaurants, casinos were closed. including computers, printers, and communications
Tourism destinations became deserted as airlines, systems/office setups surged. Personal workout
There has never been, in recent times, such and cruise vacations were cancelled. Folks mulled equipment for home use and online game software
a catastrophic impact on the economies around around wondering “What to do!” Movie theatres, became very popular. PPE purchases surged as
the world as there was with the Covid 19 Virus. live national sporting events and local events were Governments stocked up for hospitals, nursing
Governments and Businesses scrambled to protect cancelled. The NFL, NBA, NHL, MLB and College homes and other critical medical facilities. PPE
all citizens from the spread of this dreaded virus. sports sought solutions to mitigate the Covid Impact. prices soared and the con artists had a field day
Games were played in empty stadiums. The brick selling PPE to uninformed buyers.
Government responses varied from imposing and mortar retailers lost business, with the exception
economic and personal lockdowns to as little as of Costco, Walmart, and the Grocers. Critical BUSINESS MODELS CHANGED:
wash hands, wear masks, and stay at home. Planet Government Services were curtailed. Social Security,
Earth seemed to stop in its tracts. International travel Motor Vehicles, Medicare, and Internal Revenue Within the Covid environment companies and
was restricted among countries as the United States Services Offices had limited staff on site and any institutions were forced to reevaluate how they
took the lead stopping flights from China and later essential meetings were conducted via internet. did business. The concept of remote work took
Europe, the middle east, and other nations. Trying to call via phone resulted in extremely long on a new meaning. Remote work had been
wait times. growing in the economy in such areas as IT
Hospitals, nursing homes, and other healthcare (programming), finance and marketing. The real
facilities were overwhelmed with patients, but suffered driving force behind the pre-pandemic world was
from the lack of Personal Protective Equipment (PPE) THE WINNERS: the Millennials. This group sought more freedom,
including, masks, gloves, hand sanitizing gel improved quality of life, a comfortable workspace
and coveralls. Hospitals lacked beds, PPE and The winners were centered around three (3) and flexible hours.
ventilators. concepts; technology, isolation and security. Online
retailers like Amazon flourished. Technologies The question is; Will the remote work response
THE LOSERS: such as Zoom enabled remote business meetings to the Covid be a shot in the arm with continued
to continue, Zillow made virtual real estate growth or will the businesses/institutions that
In the Covid 19 environment the biggest losers evaluation easy and security software and systems implemented remote work options after Covid
were the laid off workers. Service workers were were implemented. Remote office equipment return to business as usual? There may be some

8. FDI ALLIANCE INTERNATIONAL