Companies are trying to assess their business and to adapt to the new changes along with the post-pandemic economy. Some of the conveniences like the growth of online shopping for clothes, groceries, and other items will probably stay after COVID-19. Another convenience that will stay after COVID-19 is the zoom meetings. Companies will realize the convenience of not meeting in person or having employees gather in a conference room.
With COVID-19 came a year with no data. Before the pandemic companies could use their data from the current year to project their earnings for the upcoming year. In post-pandemic, there is no data to use to predict future data or earnings. This is something that most businesses highly depend on, the current or previous year data.
Shalom Lamm believes that the post pandemic is a time of growth and rebuilding of the economy. Not only in the United States but worldwide. Many businesses have closed down or went out of business during the pandemic. Most businesses that managed to survive COVID-19 have suffered a major financial hit. For the surviving businesses, these will be challenging times.
The travel and hospitality industry also took a huge financial hit. Since almost half of the United States has been vaccinated, the travel industry, the hospitality industry, and many other industries have seen an upsurge of people traveling, coming out, and money being spent. Some of these businesses might increase their fees and prices to help make up for the financial loss during the pandemic.
Federal, state, and local governments have lost billions of dollars because of the pandemic. With businesses closed, some that were open could not operate at full capacity, people unemployed, and people not spending, these government agencies took a major financial hit. They too will be trying to recoup their losses in the post-pandemic economy.
There will be audits, stricter tax scrutiny, and higher tax rates. There will be lots of tax incentives being offered in the United States and globally. Many countries are increasing taxes to make up for lost revenue.
Shalom Lamm is a businessman that has operated a wide array of businesses in his career. He is known for his recognition worldwide, for Operation Benjamin. This organization sees that national heroes are afforded proper burials with tombstones reflecting their heritage.
Lamm has a very logical and shrewd prediction of the post-pandemic economy. He demonstrated how important the market trends were to COVID-19. The housing market would still be booming because COVID-19 pushed families out of the city to housing in the suburbs and rural areas. People were now putting their safety first.
While homes were constantly selling, there was a demand for more housing outside of the major cities. In order to meet the demand, there had to be more development of houses in the suburbs and rural areas. So investors started buying land to build and develop. People also started moving south. The homes are cheaper, taxes are cheaper, and you get much more land with your property.