The East-Central European strategic director of the PwC, an assurance, tax, and advisory services company, wrote about which segments of the Hungarian economy profited from the coronavirus crisis. Among these, there are the webshops, the delivery companies, the IT and the pharmaceutical sectors, the agriculture, and the food processing industry.
24 published the analysis (available HERE) revealing that, thanks to the virus, personal interactions sank to a minimum and digital platforms became the main avenues of communication between not only the people but also the companies or the governments. Therefore, the safety of these systems became a top priority for the users, so everybody was searching for cybersecurity experts. Meanwhile, the drone industry and the fintech sector got a fresh momentum as well.
Interestingly, people even accepted the moderate reduction of some of their freedom rights to get safety. Remaining secured from the virus also became important, so everybody bought sanitisers and bicycles, goods covered in modern wrappings, and
started to search for locally produced food.
Since everybody wanted to buy face masks, those who were able to make such things could also get ahead quickly. The need to stop the spread of the virus boosted innovation, like contactless payment or automation, for example, in banks. Companies with a pharmaceutical profile could gain investments easier in the last few months, even though investments in gold rose, and many turned to cryptocurrencies, too.
Demand increased significantly for digital free-time activities. More people watched movies and series on Netflix or YouTube, and new contestants of the traditional trademarks emerged, like the Chinese TikTok. The last few months were the
heyday of e-sports and computer games or online gambling.
Furthermore, digital education affected the development of e-learning, too.
Companies which had financial reserves and were not part of long supply chains could survive the last few months easier, the expert highlighted.