Question

Peter Drucker, considered the father of management, stated. “It is change that always provides the opportunity for the new and different.” How will industries and world economies and payment structure change in a post Covid-19 world? What will happen to low paying service jobs; the workers that are essential now, Grocery stockers, delivery, cleaners, etc. What will happen to commercial real estate, rents paid by restaurants, companies etc

Answer 1

The way covid-19 has hit the world economy and the health

system will have repurcussions for many upcoming years.

This pandemic has lead to many countries forcing them into

Lockdown which severly affected daily economic activities, consumption and demand of various services.
World after covid has a very different picture for various industries.
The worst affected are the tourism sector, hospitality, Restaurants and dining , Aviation , Retail , Automobile sector and Cinema halls. Due to Social distancing most of the places where social distancing cannot be ensured are closed down temporarily and will continue to be untill a vaccine is produced. Many of these are already going out of business and have started laying off their staff because they have generated zero revenues in the past 3-4 months.
The sectors which have taken a boom are: medical suppliers, Online streaming services like Netflix, Online education portals , online shopping platform like Amazon

The payment structure will change to online method in a post covid world such as paypal, googlepay, paytym, online banking etc. because they provide cashless transactions which is a key aspect in social distancing necessary to curb covid-19.

There will be mass umemployment in Low paying service jobs like Laundry and dry-cleaning workers, food preparation and serving workers including fast food, Dishwashers,Dining room and cafeteria attendants and bartender helpers,Cashiers,Maids and housekeeping cleaners will take a hit because demand for such services is likely to fall and so most of these workers will be left unemployed.