Real estate market prior in 2019 

Before the general public had heard even a whisper of what was coming to change all parts of our lives, the housing market was already on an optimistic road up. With a prosperous economy and rising employment rates, the first quarter of 2019 saw home equity hit a record $15.8 trillion. Millennials were a surprisingly significant chunk of these purchases, and in 2018, they made up the largest demographic of mortgage applications at 44%. 

The housing market in 2019 was also marked by house-flipping. Always a significant portion of the housing economy, flips reached its highest level in over twenty years. By the summer, single-family rentals increased by an impressive 33%. This was a setback for first-time homebuyers who were already having difficulty getting their hands on scarce listings. 

There were 5.34 million homes by the end of 2019. This came after a year of an already dwindling housing supply, increasing mortgage rates, and an increasing number of prospective home buyers. With housing prices on a slope up, median sales price stood at ​​$267,300 by April of 2019, 3.6% higher than the year prior. This momentum that started in 2019 would continue to grow as we headed into 2020. 

Why the housing market boomed through Covid-19 

When the realities of the global pandemic began to set in, those in the real estate industry feared a collapse. In hindsight, those fears were unwarranted, as the housing market experienced the most significant boom it had since before the 2008 financial crisis. Let’s take a look at a few reasons why the market spiked so dramatically. 

1. Mortgage interest rates

Interest rates dropped to historic lows in 2020. This meant significant savings for homeowners that had previously locked in their mortgages at much higher rates in years prior. This caused the refinance boom across the country. For prospective homebuyers, such as young millennials looking to make a move from renting to buying, it was a good time to invest in a safe purchase. 

1. Need for more space 

Because of lockdowns and other restrictions, many people chose to leave their city condos and apartments for bigger homes in the suburbs or more rural areas. Doing so not only allowed for more room, a precious commodity during times of stay-at-home orders and WFH, but for those that could afford to do so, it provided a haven away from cities where chances of infection were higher. 

Real estate challenges through Covid-19

Despite the substantial growth due to the Covid-19 pandemic, the real estate industry was not without its challenges. All players in the process, from lenders and agents to notaries and title companies, had to be creative to keep business moving as usual while maintaining safety at the forefront. Many real estate agents took advantage of virtual showings and utilized zoom calls to walk their clients through homes. Others continued in person with the use of face masks and social distancing. Either way, it was an added element to an already nerve-wracking process for many people. 

Title companies and escrow agents, whose jobs involve in-person signings, faced the same dilemma: how can we execute closings safely. Many companies limited the number of people coming to closing, with Facetime being the solution to keep agents with their clients. Others exclusively held closings outdoors or even created drive-thru closing systems.

One of the most fundamental parts of applying for a mortgage loan is ensuring that your income and employment remain steady. Obviously, through a global pandemic that devastated dozens of industries and left economies all over the world in shambles, this proved to be difficult. Those who lost their jobs could not qualify for loans and were forced to postpone their housing search. Other borrowers who were fortunate enough to remain employed took advantage of the historically low interest rates to purchase or refinance their homes. 

Real estate market in 2021

The real estate boom that started in 2020 grew well into 2021. Though mortgage rates have slowly been increasing, the demand for housing has stayed incredibly strong along with housing prices. Listings are down 43% as compared to last year, and sellers still have the upper hand. 

At the end of 2020, homes were staying on the market for roughly 21 days. Now, well into the 3rd quarter of 2021, they are flying off the market in just 17 days. In June, the national median of all housing increased to $363,300, a 23.4% increase from last summer. Pricing is continuing upwards, and as of June, we hit 112 consecutive months of year-over-year gains. 

Even though there are not enough listed homes to satisfy demand, buyers are predicted to continue entering the race, and many do so with cash offers. Because of the intense competition between buyers, cash sales accounted for 23% of all homes sales. Despite talk that the housing market is beginning to cool off, experts are doubtful that we are headed for a crash in the coming years. Considering that home prices saw an increase of 23%, almost triple predictions, we’d say this is a fair bet. However, experts are also predicting more homes to be listed in the second half of 2021, meaning prices are expected to cool.

The top-grossing movie in 2020 was Demon Slayer: Kimetsu no Yaiba the Movie: Mugen Train distributed by Sony Music Japan, making a worldwide gross of $500 million. The second position was the movie titled The Eight Hundred, a movie set in Japan, distributed by CMC pictures with a worldwide gross of $572 million. My People, My Homeland, a movie set in China and distributed by China Lion Film Distribution with a gross of $433 million, became the third-rated movie according to the worldwide gross. The fourth top-grossed movie in 2020 was Bad Boys for Life, distributed by Sony Pictures, with a worldwide gross of 426,505,244. To wrap up the top five of the top-grossing movies in 2020 is Tenet, distributed by Warner Bros with a worldwide gross of $363,656,624. The analysis of the five most grossed movies in the world is important because it helps in understanding the performance of the movie industry. 

Some of the factors that determined the gross sales that a movie made included the clients’ budget, the ratings that the few people who have watched the movie have submitted, and the directors and the cast that has been used in making the movie.  The famous actors are likely to attract more clients compared to those who are not well known. The budget of the clients is also important because it is a determinant of demand, and it suggests whether the client will have the money to purchase the movies or not. The COVID-19 pandemic led to a global financial crisis that reduced the amount of money available for people to spend, which affected the sales of movies in the world. 

Information on the total grossing is more important because it gives the actors and the producers a chance to reflect on how the year was and whether they could have improved the situation. It is clear that the year 2020 recorded the least revenues that come from movies, which indicates that the movie industry was also affected by the financial crisis that took place in the world as a result of COVID-19. Such information also helps in research to develop the methods that could help increase the number of sales made in the market.

Greece is a small country with an economy based on tourism and services. The pandemic has had a grave effect on the country since the lockdown prevented businesses from working. However, the strict measures are been gradually lifted, and people are hoping for a quick return to normality. Greece is already receiving tourists from all over Europe and the rest of the world, while businesses in the Greek islands have already prepared for their arrival. 

Nevertheless, the pandemic and the lockdown have brought significant changes to the Greek’s everyday life. These changes are going to remain even when the health crisis is over.   

More People Have Discovered Online Shopping

In recent years, online shopping has developed a lot in Greece. However, since the pandemic and the lockdown, more and more people and businesses are discovering its potential. Up until now, the older generations have been wary of technology and preferred to do their shopping in person. However, been unable to step outside, forced them to go online and search for the items they desired.

One of the first big changes in Greece has been the launch of numerous new e-shops. Retail stores that have been in business for years have decided to expand and open an e-shop. Their success encouraged others to do the same, and right now, the consumer has plenty of available options. 

Moreover, most of these businesses are using social media, such as Instagram and Facebook, to promote their products and reach potential customers from all over the country. Online shopping has increased so much that the courier services in Greece faced an overload, resulting in significant delays in the delivery of the packages. 

Online Grocery Shopping

The COVID-19 pandemic has also boosted online grocery shopping. Some of the biggest supermarket chains in Greece were already offering online shopping and food delivery options. However, not many citizens chose to do their grocery shopping this way. 

The lockdown, the obligatory curfew, and the purpose declaration SMS have all contributed to making each person hesitate to venture out. Indicatively, during the lockdown, citizens were mostly going out for grocery shopping. When they did so, they purchased in bulk so that they wouldn’t need to go out again soon. 

However, people soon discovered that they could do their grocery shopping online. The huge demand has also led to an increase in online supermarkets. At the moment, every supermarket chain in Greece offers home delivery, even those that haven’t developed a dedicated online store. 

It is interesting to note that more people are now interested in discounted products or deals. Of course, this is the result of the anxiety and uncertainty for the future that the public health crisis has brought. 

The Rise of Home Cooking

One more big change that the pandemic has brought in Greece is the rise of home cooking. Up until now, food delivery had been flourishing in the country. Even though many people still choose to have food delivered to their doorstep, there is also a large portion of them that prefer to cook something at home. 

Since retail stores were closed for a significant period, all the employees found a lot of free time that they didn’t know what to do with it. Furthermore, since there was no source of income, apart from the government’s allowance, they decided to start cooking their meals more frequently.

Instead of ordering food online for dinner, people are now interested in making their own bread, pizzas, and all sorts of dishes. Still, food delivery managed to remain at a satisfactory level, being one of the highest ones in Europe. 

Increased Trust in Electronic Payments

The COVID-19 pandemic has also contributed to the rise of electronic and contactless payments. Until this health crisis, people in Greece, and especially older generations, preferred to pay in cash. However, the coronavirus restrictions pushed more and more people to use their debit and credit cards for their purchases. On top of that, they chose contactless payments that allow even quicker and safer transactions. One regulation that contributed to this is the rise of the limit for contactless transactions without the use of a PIN, from 25 to 50 euros.  

In addition to this, in 2020, there was also an increase in contactless payments via smartphones, especially among the younger generation. Many banks have created virtual wallet applications that allow quick and intuitive transactions. Meanwhile, many people have discovered Apple Pay, Google Pay, and Garmin Pay. 

Changes in the Work Environment

The lockdown has also forced many employees to work from home. The beginning of the pandemic highlighted the need for the businesses’ digital transformation that would allow the employees to perform their daily tasks at home. At the moment, many businesses have already adopted the best practices to enable their operation to run smoothly. 

This has also been a great change for the older generations in Greece since they have been suspicious of technology. The events forced them to try new solutions and find ways to keep their businesses running.  

The COVID-19 pandemic is a health crisis that has affected every country in the world. In Greece, in particular, this situation has accelerated the integration of new technologies by more businesses. The digital transformation has contributed to the evolution of the market in Greece, with more retail stores opening e-shops. Moreover, it has helped familiarize citizens with online shopping and contactless payments. All of these changes have altered everyday life in Greece, while they are all expected to become the new normal.

Platinum Credit Limited, that’s the name. This is the company that saw my potential in my first interview. Straight from the village, it was my second visit to the city. But this time, I was coming to work. My role as a sales rep was to market logbook loans for the company and get paid through commissions. I didn’t have a strategy, but at least it was common sense that there’s no way I won’t fail to earn through this job. There are cars everywhere, and everyone is busy chasing money in the city. So my market was there. I saw the full car parking zones, the heavy traffics in the city, car yards, malls, gas stations, and uncountable car wash zones. I saw this role as an opportunity to make quick money. So after training, we went out to the field to prospect.

Facing Challenges

The first two weeks didn’t go as planned. Although I had already made some friends and formed a team to work with, we struggled to land our first client. We had received some training, but the main challenge wasn’t about our ineffectiveness; it was the market share. Most of the car owners we tried to sell our services said they already had their go-to person if they needed a logbook loan. 

Another big challenge was working in a new environment. Nairobi was very new to me, and as a sales rep, we didn’t have an office. We spent most of our days in the high traffic areas. And just as if our day wasn’t tiresome already, we faced resistance and rejection from some of the people we met. Some of those who were willing to listen to us had poor credit reports or were just drivers for their bosses. I was frustrated, but it was just the beginning of the struggles.

A month in the industry, and I had not landed my first client. It was majorly because I was working fewer days a week. I lacked the motivation, and I have never received a paycheck despite the hard work I had put in. It was commission-based. You reap what you sow. Without receiving a salary, I still had to live in the city and pay all the expenses. It won’t take long before I call it quits.

Things getting worse

They say bad luck comes in three. COVID-19 hit. On March 14, the first case was reported in Kenya. It quickly spread in the city. Everyone was afraid of the strange disease that was killing thousands every day in the world. The pandemic affected our movement and communication with the prospects. No one wanted to talk to us. No one wanted to be given flyers for fear of being infected with the virus. With the challenging situation, I knew I was going to wait longer for my first client. I had to develop a strategy. So I went to the car yards and not people. I talked to several owners and left them my contact information to share with anyone who may want to buy a car from them but needed a loan. Although I received some calls, we disagreed in the end due to the high interest rates we were offering.

I also tried to market our services online, but it never just clicked. So I quit after less than two months. By this time, COVID-19 was rampant. So I decided to sit at home, keep safe while trying to look for other opportunities, at least a job that pays a basic salary.

A ray of hope shattered again.

A few days later, my Team Leader from the company called me and shared another lucrative offer. He had just moved to another microfinance institution and wanted to carry on with me. The good thing about the new opportunity is that our market was not limited to logbooks. It was wide, dealing with all the civil servants and business owners. I knew this was going to be easier. However, we were in the middle of the pandemic. People were even afraid of taking loans for fear of defaulting them due to the hard times ahead. Just like in the other company, I left after failing to make a sale. I shifted to freelancing, and now I’m a top-rated Copywriter on Upwork and Level 2 seller on Fiverr.

My advice to other reps

Being a Sales Representative is not an easy fit. One thing I learnt is that being resilient is key when you want to succeed in this role. You may stay for months before making your first sale. You get paid based on luck and effort. At least that’s what I can say. But the kings of the industry may say otherwise; it’s easy, and you have the freedom to earn what you want. What I know is that you will need to learn their tactics. Keep them closer to you and understand their approach. Ask them how they made it. I don’t have an answer to that, but I know you will need unwavering commitment and determination to achieve your financial goals.

For me, it wasn’t just my thing. Even when the pandemic is over, I’m not going back. I can only appreciate the person I have become right now and what I’m doing. Sales Rep was just an experience that taught me many lessons, which made me the person I am today.

The Increasing Popularity of Staycations

While staycations were always quite popular in the UK before, they are the top choice for holidays in 2021. Staycations encourage UK residents to explore closer to home, which may include staying in your local county or heading on a road trip up to Scotland. Staycations help to avoid any disappointment regarding the ever-changing travel restrictions, and with so many beautiful places to explore in the UK, it’s no surprise popular locations such as Center Parcs are fully booked for the summer.

Road Trips

The travel industry is going to see far more individuals in the UK heading on road trips or long train journeys instead of flying this year. With so many people in the UK having remained at home for the past year, the thought of heading on a plane when there are other alternatives available seems unnecessary. Road trips are a great way to explore Scotland, Wales, and Northern Ireland, and you’ll be able to stop at off-the-beaten-track locations on your journey. More people will begin looking into van rentals, where they can enjoy sleeping in their vehicle on the trip.

Budget-Friendly Travel Options

There’s no doubt that the pandemic has been incredibly challenging, and financially, many people in the UK are still struggling. Over the next few years, we can expect to see an increasing number of deals on travel in the UK, particularly during school term-time and off-peak months. You’ll find options available for all budgets, whether you are looking for a cheap weekend away or want to splash out on a luxury celebration with your family.

Unique Accommodation

Individuals in the UK who are opting to remain at home this year are now willing to splash out on unique accommodation options. With sites such as Canopy & Stars and Airbnb offering treehouses, glamping, shepherd’s huts, and yurts, there are so many fun alternatives to your typical hotel stay or apartment rental. These accommodation options are generally more isolated than hotels and holiday parks, offering the space and privacy many of us are craving.

Active Trips

The UK has been subjected to some extensive lockdowns and restrictions in the past year, and many people have noticed the benefits of their daily walks and time outdoors. For this reason, active holidays are going to become increasingly popular in the next few years, with more opportunities for hiking and cycling trips. These are the perfect way to escape from sitting in front of your laptop all day at home and reconnect with the world around you.

It’s an exciting time for the travel industry in the UK. As many residents are choosing to stay closer to home, you can be sure that staycations are going to be the number one holiday choice for the next couple of years. With so many beautiful destinations to discover across the UK, people are looking forward to exploring the world around them once again.

Along with Nigeria and South Africa, Kenya leads the region in cryptocurrency-related activities. In 2020 alone, Kenyans traded over $91 million worth of Bitcoin on online exchanges, ranking eighth globally. Only Nigeria had a higher Bitcoin trading volume in the same period across the sub-Saharan region. 

A Non-Restrictive Government

The Government of Kenya has barely any regulations for Kenya’s crypto industry, and no clear signals point towards prohibition or reception of cryptocurrencies. However, Kenya’s Central Bank had previously issued multiple warnings to the public and financial institutions, cautioning them against transacting cryptocurrencies. 

Judging by one of the latest remarks by the Governor of the Central Bank of Kenya (CBK), Dr. Patrick Njoroge, the regulator is seemingly changing its stance on cryptocurrencies. Dr. Njoroge revealed that Kenya had entered discussions with global Central Banks regarding a possible entry into the crypto space through Central Bank Digital Currencies (CBDC).

Growing Popularity among the Youth

Even with these cautions, Kenya’s crypto market has never been more vibrant. More people are learning about cryptocurrencies and joining the crypto space. The majority of the new crypto industry entrants are young Kenyans between ages 22 and 30. 

In a country weighed down by unemployment, the youth rely on informal and self-employment opportunities to make a living. The crypto world’s highly volatile but steadily bullish markets have made it an attractive investment opportunity for many unemployed youths.

What’s more, Kenya’s young population is tech-savvy and always interested in new and emerging technologies. As of December 2020, Kenya had an internet penetration of over 85%, ranking top among all countries in Africa. Coupled with high smartphone penetration, this vibrant group is always up-to-date regarding the latest crypto news and other tech-related events. 

Accessible Crypto Services

The bustling crypto market in Kenya would be nothing without access to crypto services. Kenya’s traders have access to many crypto trading platforms, most notably Binance, Coinbase, and Paxful. Binance’s peer-to-peer (P2P) trading, which previously supported crypto payments via M-Pesa, is one of the most popular ways for trading crypto in Kenya. The top exchange engages Kenya’s crypto community via its Telegram group. Paxful also has verified vendors through whom traders can purchase Bitcoin and altcoins.

The crypto community in Kenya organizes several events to share blockchain technology knowledge with interested individuals, learn together, and hear from industry-leading experts. Most of these meetings are held virtually, increasing their reach even further. 

Finally

The CBK points out the potential for illicit financial dealings using crypto as a major red flag. Unlike Nigeria’s March 2021 crackdown on cryptocurrency trading, Kenya’s government has been fairly relaxed regarding this market despite the CBK’s warnings. The country’s crypto market is blossoming and direly needs supportive regulatory frameworks. This way, the industry will gain the trust and confidence of more people across the country to propel it to even higher heights. 

References:

• https://kenyanwallstreet.com/cbk-in-discussions-over-digital-currency/
• https://paxful.com/buy/bitcoin/kenya
• https://www.statista.com/statistics/1195753/bitcoin-trading-selected-countries/
• https://qz.com/africa/1985223/nigerias-crypto-ban-has-startups-and-traders-in-a-frenzy/
• https://www.statista.com/statistics/1124283/internet-penetration-in-africa-by-country/
• https://t.me/BinanceKenya

On September 18, 1947, Pakistan Stock Exchange Limited (PSX) (previously Karachi Stock Exchange (Guarantee) Limited (KSE)) was founded. On March 10, 1949, it became a corporation. With a total paid-up capital of 37 million rupees, only five businesses were initially listed. The KSE 50 index was the first index developed, and it was based on fifty companies. Trading was usually done on an open call system. The computer trading system called the Karachi Automated Trading System (KATS) was launched in 2002 with a trading capacity of 1.0 million per day and the ability to provide connectivity to an unlimited number of users.

In October 1970, under the Securities and Exchange Ordinance of 1969 by the Government of Pakistan, a second stock was established in Lahore in response to the needs of the capital city of the province of Punjab. It originally had 83 members and was housed in a rented building in a densely populated area of ​​Bank Square in Lahore. LSE was the first stock exchange in Pakistan to use the internet.

And another stock exchange known as the Islamabad Stock Exchange was established in Islamabad, the capital of Pakistan on October 25, 1989 with the main aim of establishing trading and residential infrastructure, information system, skilled resources, accessibility and orderly. The needs of undeveloped areas in the northern parts of Pakistan. It was licensed as a stock exchange on January 7, 1992.

All of these exchanges had different management, trading links, indicators, listing methods etc. All of these exchanges had previously functioned as nonprofits with a consensus structure in which their members were entitled to trade and patents. This structure has naturally created a conflict of interest and appears to jeopardize the interests of investors. Therefore, the Stock Exchanges (Corporatization, Demutualization & Integration) Act, 2012 (known as the “Demutualization Act”) was promulgated by the Government. As a result these three exchanges were merged to form a new joint venture called Pakistan Stock Exchange Limited (PSX) which became operational on January 11, 2016 under this new heading.

As provided for under the above-mentioned Demutualization Act, Members have now ceased to be members of the PSX and have been issued with Commercial Copyright Certificates (“TRECs”) and PSX ownership shares, thereby separating trade rights and patents. While TRECs represent trading rights, PSX shares represent ownership. Now, TREC executives do not need to be PSX shareholders or PSX shareholders are required to be TREC PSX shareholders.

As envisaged under the provisions of the Consumer Act, regulatory functions are separated from the commercial functions of PSX, so that regulatory functions are not compromised in achieving the commercial purpose of monetization. In addition, under the provisions of this Act, after the reduction of the law, the number of persons representing TREC owners on the PSX Board shall not be plural and the Act also considers the division of shares of TREC owners held in their restricted accounts to investors and public / financial institutions. Within a certain time limit.

The Karachi branch of the Pakistan Stock Exchange is located on Stock Exchange Road, in the heart of the Karachi business district. This area is known as the Stock Exchange Building.

there is very little talk about the social consequences of the crisis and the  associated lockdowns. We talk so often about health and the importance of it, but  what about mental health? What about the mental health of our children? What is  the constant isolation doing to people with depression or anxiety disorders? All of  these aspects of this crisis and many more are simply not being addressed. It’s all  about new measures, new rules. Sometimes it seems as if the politicians are just  looking for new reasons to impose a new curfew.  

Most people are just tired and exhausted of all the restrictions they have to live with  for so long. But don’t get me wrong, it’s not about selfishness or not wanting to help  other people. It’s more about the fact that from an objective point of view many  political decisions on these restrictions just don’t make sense. COVID-19 also  divided us as a society in a way. It quickly became a highly political issue on which  everyone has to take a stand. Which policies are supported and which are not?  Which vaccination is the best one? People almost brag that they already have a  vaccination appointment or are already vaccinated. It is odd from an outside  perspective. The people who are not yet so sure with the vaccination or do not want  to be vaccinated of course equal conspiracy theorists.  

The openings of the catering trade, hotel trade and culture in the middle of May  2021 brought relief for many. Finally back to the coffee house, that’s what the  Austrian needs. Finally back to a beer in a bar. Finally back to the theater, to the  opera. Finally (a little) travel again. But all that only with proof of a negative test, a  vaccination or a passed infection. What about the people who can’t prove any of  that? They are no longer part of public life. If the mask is forgotten, unfortunately,  you are no longer allowed to get a roll at the bakery. To what extent is that still  okay? Many say it is fine. That one can do without a few basic rights for a short  period of time in order to help the world and many other people. But no one really  knows how long these regulations will be with us. How long we will have to be  tested or vaccinated. How long we will still have to wear masks. Probably until we  feel it’s normal. To a certain extent, that’s already the case. Whether there will ever  be a real “return to normality” cannot be guaranteed. Our normality has already  changed. To what extend that’s okay is up to each and every one of us to decide.

Since we are in fresh moods to start our journey of adventurous life again. Why not travel to new places? Why not point a finger at the map and go wherever it takes you? Well technically it is not possible but how adventurous it will be! 

Our map suggests India is a good place to start your travel life again. So in this blog, we will talk about important things you need to know when you are going to India. 

• Culture: First things first. Let’s talk about India. Even though India is not as conservative as it was before and has improved a lot, there are still many places where you can find your opinion clashing with other Indian people. 

In Indian culture, guests are welcomed with open hearts but there are limitations of things they can do in public. In metropolitan cities like Delhi or Mumbai giving your love a peck on the lips is not a big thing but if you did the same thing in a small city or a village people around you will get furious. So understand where you are and what your surroundings are, behave according to them. 

• Weather: From April to October India is very hot but it also depends where you are. If you are in the mountains you will not feel that hot but if you are in a plain area like Rajasthan your skin will melt from the heat. If you visit mountain areas in the winter season you will get to see beautiful snowfall. The mountains of Himachal Pradesh are breathtaking, you will never want to go back. 

If you are from a cold country you will probably not even feel the cold of India but if you are from a hot country then India’s winter can get a little chilly. The coldest months are December and January. Sometimes February is cold too. If you want to enter India neither during cold nor during winter then March- April and October are good months. 

• Food: For foodies out there India is the perfect place. But keep your taste buds open for really really spicy food. Yes, you will have the option for less spicy food too but if you want to taste the real Indian food then give spicy food a try. You may find it hot but your every taste bud will be alive, you will taste every spice present in that dish. South Indian food and Rajasthani food is a must-try but food from other places is good too. There is litti–chokha from Bihar and roti-saag from Punjab. There are so many dishes for you to try.

The street food of India is the best thing that will probably happen to you. Pani puri would have been given the award of best street food of India if there was such a thing. Along with this, you will find other fast foods like momos, chowmein, dahi bhalla, etc. You will find all international foods on Indian streets with an Indian touch. It will be something that you will never forget. Big cities have all dishes in various restaurants but small cities will have limited food options. But there too you will get to taste the food of its own. When it comes to food, Indians are very emotional about it. They show their love with the food they feed you. 

• Necessities: Even though you will find everything in India, there are some things you might not be able to find. For example, your specific soap or shampoo brand. You can get it delivered from Amazon.com, but who knows how much time it will take. So before packing your bag see what things you use daily, and then check if they are easily available in India. There are various sites that will provide you with this information. Keep your medicines, sunscreens, and moisturizers with you too. 

Only carry things that you absolutely need. Do not overpack because in India you will be walking on foot a lot. It is not a bad thing but with big bags, it can be pretty tiring. 

• Travel: If you want to know every bit of India and what type of country it is then take a bus or a train while traveling from one city to another. Get out of your luxury and book a seat in general coach instead of AC. In trains you will find old people talking about their lives, you will hear the love stories of students, and you will see the mischievous kids running and bothering strangers. 

But if you like to travel peacefully while peeking out of the window then book a seat in an AC coach where you are away from all that noise. Get some snacks and tea from the vendor and enjoy your trip. 

Gurudwaras are the most peaceful places in India. Here true gesture of selfless love is performed. The love for people and for their protector. Big Gurudwaras hold ‘langar’ where they feed people. Men and women make langar food without getting anything in return. ‘To serve’ is their only aim. Whoever wants to serve can go to Gurudwara and help people make food, feed it, and help other members clean it. 

India is a mixture of everything from the cleanest environment to the most unhygienic environment. It has love but it also has hatred. It has its beautiful face but it also has its ugly face. When you visit India you will see everything. It is up to you what memories you take away. There are so many people who came to visit India but never went back. They found India so comforting and peaceful that staying was the only thing they wanted to do.

Check Out: https://www.auchitya.com/top-temples-of-india-to-visit/

Don’t worry, though; this post is not yet another article about the pandemic’s destructive effects! 

Instead, it’s an objective view on the significant change the pandemic has created in Australia and how it has reshaped the whole country’s social and economic landscape.

Indeed, as the destructive virus spread onto the world, it triggered major seismic shifts initiated by governments, leaving businesses, organizations, and consumers scrambling to adapt and adjust decade-old economic and social habits. 

And as the vaccine rollout continues, lockdowns ease, and borders reopen, local experts believe some of the changes will stick.

Let’s take a closer look, shall we?

COVID has slowed down Australia’s Population Growth

Migration Numbers Slide

Before the pandemic, the Australian annual population growth rate was 1.5% p.a on average. And 38.6% of the growth came from overseas migration.

Now, for the first time in one hundred years, the figures regarding net migration in Australia are negative. Indeed, the latest data revealed that between June and September 2020, 55,400 people left the country while only 20,600 entered. 

Why is that?

Unfortunately, the strict border closures initiated by the Australian government since March 2020 have led to a massive drop in population. And according to Dr. Elin Charles-Edwards from the University of Queensland, ‘’by 2030, around one-million fewer people will be calling Australia home than we would have seen otherwise’’.

What’s more, a recent study revealed that Australia is no longer a key migration destination.

In fact, the survey shows that most countries are now feeling neutral about migrating Down Under. Drastic border closures and tight immigration policies have led many to consider Canada or the UK instead as a future migration destination. As a result, the competition is now fierce between countries striving to attract top talent. For instance, Canada has recently increased its migrant intake by 350,000 annually to revitalize its economy.

The Fertility Rate Falls during COVID

The slower population growth is also due in part to a lower fertility rate over the last year. Indeed, the fertility rate significantly fell in 2020 (1.58 babies per woman, down from 1.69 in 2019).

As a result, the rate of natural increase dropped by 3.8% between September 2019 and September 2020. In fact, this represents a record low in the country’s history, according to the Australian Bureau of Statistics. 

And the uncertainty associated with the pandemic is largely to blame as Australians feared for their jobs. As the economic outlook became uncertain, couples decided to put their plan to have a child on hold.

The Economic Impact of Australia’s Population Decline

The issue for Australia is that its economic growth is strongly reliant on skilled migrants and students. As a result, it’s no surprise that plummeting immigration led to GDP contraction in 2020. And unfortunately, it is most likely to continue to do so in 2021. For instance, 40% of the education sector’s revenue comes from international students who have been unable to enter Australia for over a year, leading to billions of dollars in loss. What’s more, some inner areas of Sydney, Melbourne, and Brisbane, once magnets for students and working holiday makers, are now experiencing a population downturn. 

Besides, a country needs a fertility rate of about 2.1 for each generation to replace itself. With such a low fertility rate, Australia is not only growing slower, but it’s also aging faster. 

And a smaller and aging population leads to higher healthcare costs, lower innovation, and GDP. This then leads to a permanently shrinking economy. 

So, while it’s still too early to assess the real economic impact of Australia’s population downturn, experts agree that higher migration levels and fertility rates are needed for Australia to restore its former economic growth glory. 

The Pandemic Prompts a City Exodus 

The pandemic has led many Australians to work from home, seizing the opportunity to move to regional areas for a quieter and more affordable lifestyle.

In fact, according to the latest figures, 104,800 people moved interstate in the last quarter of 2020. This compared to 3,900 the previous year. NSW and Victoria saw the biggest decline in net migration, while Queensland and WA primarily benefited from the exodus. Some of the most popular destinations are Gold Coast, Newcastle, Cairns, and Sunshine Coast.

The city exodus is driven by a few factors such as:

• Ability to work remotely
• Capital cities’ high real estate prices and cost of living 
• Limited space in bigger cities
• Cities’ traffic congestion
• Busy and stressful city lifestyle 

And according to some experts such as Urban Planner Tony Matthews from Griffith University, this is only the beginning of a future mass exodus.

We’ve listed below the implications of this population shift for regions:

Regional Real Estate Prices on the Rise

As was to be expected, the increase in population in regional areas has led to rising property prices over the last few months. Indeed, while cities’ property prices have fallen 2.3% between March and November 2020, regional property prices have gone up by 1.7% on average. And the rise is set to continue in regional coastal centers as they provide residents with commutable distance to capital cities while allowing for a regional lifestyle.

Region’s Economic Growth Boost

According to Tony Matthews, the fact that many people are now moving from capital cities to regional areas will undoubtedly provide an economic boost for regional towns. Local councils will be able to spend more money on improving livability, building infrastructure, and enhancing neighborhoods. This will, in turn, increase job opportunities and attract more people as cultural and social activities increase.

Saturated Infrastructure

While the city exodus has many positive benefits for regions, it unfortunately also comes with a major downfall. The flock of city dwellers has put considerable strain on local broadband, traffic, and power networks. So, even though many will stay in regional centers once the pandemic has passed, more support from the government will be needed regarding infrastructure capabilities for the trend to stick.

Remote Working is Here to Stay 

The sudden COVID-19 pandemic has driven companies to quickly shift to a digital and remote working model to survive and continue to thrive. Indeed, in February 2021, 41% of Australians were working from home at least once a week, as opposed to 24% before March 2020. And according to a recent study, only 10% of Aussies want to return to the office full-time after the pandemic.

Working from home has become part of the new normal, reshaping the Australian employment landscape.

Australians Want to Work from Home

A recent study revealed that 78% of Aussies would like to work from home at least a few days a week. 36% of them express wanting to work in the office predominantly and occasionally work from home. On the other hand, 24% would prefer to work mainly from home and sometimes from the office. The appeal of working from home is clear; it allows for a better work-life balance and improved productivity.

Employers Open to a Hybrid Working Model

But the remote working model doesn’t only have benefits for employees. In fact, 47% of employers are open to keeping a hybrid work-from-home model after the pandemic. Indeed, a major positive for companies is the reduction in rental office space-related costs. And as a matter of fact, many top-tier Australian companies have downsized their office space in 2020. Another benefit for companies is that allowing employees to work from home for a few days a week can also give them an edge over the competition.

Therefore, what we’re most likely to see in the coming years is a hybrid working model with smaller office spaces and flexible working arrangements. 

Shifting Shopping Habits 

Online Shopping is Booming

The Australian e-commerce market boomed in 2020, driven by strict lockdowns and the fear of catching the virus. However, although this trend had already begun in the preceding years, it’s most likely to stick as consumers and shops have adapted. In fact, the Australian e-commerce market is expected to reach $77.7 billion in 2024, up from $52.2 billion in 2020.

The trend will continue to grow, fueled by:

• The convenience of online shopping
• The multiplication of online retailers
• New online purchasing habits
• An increase in customized digital payment solutions with the rise of BNPL players such as Zip and Afterpay

Australians are Spending More Carefully

Research has found that more Australians are shopping for private label products and sales items. What’s more, 60% of Aussies would pick the lowest-priced option among their favorite brands. And because Australians are being more careful about their spending, they pay more attention to brand attributes, prompting brands to adapt their ranges.

Australians are Embracing Ethical, Sustainable, and Local Products

Ethical and Sustainable Products

While the trend started before 2020, the pandemic has reinforced the need for most Australian consumers to shop for sustainable products. In fact, new research indicates that 87% of Australians now want to shop more ethically and sustainably. 41% of them are even willing to pay more for ethical and sustainable products. As they become more conscious about the products they choose, Aussies expect brands to be transparent and engage in sustainable practices. Plastic reduction, country of origin, growing methods are all key factors Aussies are now paying attention to when shopping.

Local Products

In 2020, Australia was hit by devastating bushfires, floods, the COVID-19 pandemic, and some strict prolonged lockdowns. As a result, Aussies are willing to support local businesses more than ever. In 2020, 83% of Australian consumers sought to support local farmers, growers, and suppliers. And this seismic shift towards buying Australian products will most likely continue driven by the safety, high-quality, lower environmental impact, and enhanced community benefits of buying local.

Renewed Interest in Domestic Travel 

Due to strict border closures, Australians have been rediscovering their own country and exploring their own backyard.

Indeed, the Australian tourism industry has experienced a surge in domestic travel over the last few months. And this increase has been fueled by pent-up demand and heavy domestic promotion by Tourism Australia. 

Some of the key trends this year include:

• Backyard Bucket List Travel: 

In January 2021, Tourism Australia released its 2021 bucket list to encourage Australians to explore their beautiful country. Some of the top destinations on the list are Uluru, the Great Dividing Range, the Great Barrier Reef, or the Kimberley region. Yet, Intrastate travel is currently driving the recovery. Indeed, regional areas such as Port Stephens, Newcastle, or Byron Bay have greatly benefited from city dwellers exploring their own backyard instead of traveling abroad.

• Working Holiday Model:

#workfromanywhere has taken the world by storm, and Australia is no exception.

With more people able to work remotely, Aussies have spent more time on their holiday destination, combining hours of work and time off enjoying new activities and landscapes.

• Aussie Road Trip:

For international travelers, the Aussie road trip has always been a must. But renting a van and hitting the open road to explore some of Australia’s most spectacular natural wonders is no longer a touristy thing to do! Indeed, one of Tourism Australia’s latest studies shows that over 500,000 Aussies are planning to hire a van this year to embark on an Aussie road trip.  

What’s in Store for Australia in the Future?

The pandemic has undoubtedly reshaped our lives whether in Australia, Africa, Europe, Asia, or America. And while Australia was lucky enough to successfully contain the virus and limit the death toll, uncertainty and the need to adapt fast have brought about seismic change that will most likely affect the country for years to come. From the way we travel, consume, and study to the way we work and plan our future, the effects of the pandemic are far-reaching. But even though the virus has had a devastating impact on human lives and mental health, it has also brought some positive change allowing people to achieve a better work-life balance, spend more quality time with their loved ones and build their dream life. 

Will these positive aspects last? 

Only time will tell…