Chinese new year begins on the third or twelfth day of February and will last until the end of the month. This is the year of the Metal Ox, generally considered as a lucky year. Those who will work hard will reap the benefits of their hard work. Generally, this year is the most opportune time for recovery and rehabilitation.
However, this year while auspicious to all people, will not be without extreme challenges. Governments that failed in managing the COVID-19 epidemic will further find it extremely hard for their people and their economies to recover. Governments that implement massive quarantines and lockdowns will find their economies slow moving, unable to attract new investments and generate more public funds. Many governments, particularly those under dictatorships or mala fascist ones are expected to be the hit hard this year. With slower economies, how then will governments generate revenues to fund social services?
Fears of fresher and newer outbreaks will still affect the global tourism industry. Most people will just stay at home. Home-based work assignments will continue to be the norm by this year.
This just means that courier and delivery services will still be the business to match by this year. Retail brands will still depend on delivery services to survive this economic malaise.
Businesses who are able to re-invent themselves will earn more this year than last year’s. Al fresco styled eat outs and restaurants seemed to be the best go to places by many this year and this will continue by this year. Meaning, ritzy restaurants will not earn that much this year and many of them will surely close.
E-business will remain very challenging with thousands of new brands and fresh entry launches every day. Again, established global brands will remain profitable. Those who are considered legacy brands will flourish.
Malls will close, and those being constructed as we speak will surely re-configure their structures to conform with the generally accepted view that open air mall environments are safer and more preferred than air conditioned ones. This will also encourage the use of water-based air conditioning in malls, lowering carbon emissions by a ton.
With big establishments closing, electricity demands will go precipitously down but will likewise be balanced by greater domestic home demands as work shifts to homes. The gig economy will re-invent itself, and will be forced to go digital. Such shifts will depress other industries reliant on events.
Aerosol use will increase as home purchases now include disinfectants that use aerosol spray bottles or containers. Manufacturers of disinfectants, medical grade alcohols and pharmaceuticals will continue to earn billions.
Greater awareness on organic foods is sure to rise as people become more concerned with their health. Smokers will look for ways to cut consumption. However, this will not be the case for alcoholics. As more alcoholic beverages enter convenience stores like 7-eleven, consumption will remain high.