Predictions in 2022

Time flies and we are in 2022.This comes a bit too late but well never too late as long as 2022 has not end.  Here are some of the predictions in 2022.

01     Pandemic to Endemic

Although there are further mutations of the virus, mankind is inventing vaccines and booster shots to produce immunity against the virus. No one knows when the viruses could be wiped out but one thing for sure is that the pandemic could become just like common cold for more developed countries with high vaccination rates. Countries will not enter endemic phase at the same time. The faster the country enters the endemic state, the faster it can get back to pre –covid standards. It will create a larger economic inequality between the richer and poorer countries. Richer countries will be able to allow travel much earlier and this will get the economy back up.

02     Future of Work

Due to the pandemic, people realised that they have the flexibility to choose their working hours. Employees prefer work life balance which they know that they can work more productive remotely. It is also a win win situation for the employers as they can scale down their office spaces for substantial savings. This might lead to more people resigning and reprioritizing their lives goals.

03     Inflation and Rise of Cypto

Inflation is running at a nearly four decade high in the United States and Singapore is not spared from rising inflation rates. Higher inflation erodes the value of money in your bank account. Gold has been used as a hedge against inflation however crypto has been gaining popularity in recent years. Non fungible tokens (NFTs) and the metaverse will continue to boom into 2022. Even Facebook is taking a claim in the metaverse. The blockchains and its impact is definitely a thing to note in 2022.

04     Travel worries

How many of us have not been travelling due to the pandemic, I think all of us are looking forward to being able to travel to far and exotic countries. However due to the impact of the lockdowns and travel bans, a lot of the travel related industries was impacted. Jobs are lost and reduced, time and money is required to attract the talents back into the related industries. Not only increased salaries, rising oil prices will cost travel fares to go up. Thus people will go and hunt for shorter trips within the countries or countries nearby instead.

05     Potential Business Opportunities

Online retail will continue to prosper, however due to the disruptions of the supply chain caused by the pandemic, there will be further delays in shipments, resulting in scarcity of resources and goods. This will give rise to the second hand economy.  Consumers do not mind using second hand goods to save some money and to wait for new products to reach the shopping racks. The rise of the second hand economy is also fuelled by the consensus to create a more sustainable future to deter the impacts of climate change.

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