The effect of COVID-19 on freelancing

COVID-19 has had a major impact of all kinds of economic activity worldwide. The arrival of the pandemic and subsequent protocols dramatically affected conventional economic activity. For instance, running errands in person was replaced by online orders. Likewise, as safety measures like lockdowns, social distancing and work from home were imposed, a lot of individuals turned to freelancing.

The impact on freelancing

As the economy was shuttered, millions utilized platforms such as Upwork, Fiverr and Freelancer.com to exhibit their skills and earn their livelihood. Research conducted by the World Economic Forum revealed that thirty to forty percent of the labor force were compelled to work in this capacity.

2020 witnessed a substantial rise in the number of freelancers employed full-time, a decision many took out of necessity and not by choice. Although the disruption in economic transactions meant that there was a shortage of jobs in the short term, the freelancing industry began to recover as many flocked from their traditional roles to virtual ones.

The ill-effects of COVID-19 are extensive, although freelancers believe the future is bright for their industry. Naturally, alterations in the job market have illustrated that online work has risen considerably in the last year or so. Mobile platforms were thriving and remote work became more convenient than ever. The outcome of this shift in the dynamic meant that the digital economy offered room for freelancers to meet the demand gap.

Positive signs

Similarly, a survey conducted by Payoneer, a popular online payment service, showed that businesses were more than willing to adapt to remote work, which was the cause for optimism for freelancers worldwide. Even though the vaccine rollout has surged in recent weeks, they expect the gig economy to flourish.

Furthermore, IBISWorld, a multinational marketing research firm, reported that agencies all over the world were keen to restructure their operations and shift to online work, which would be an advantage for freelancers. For instance, marketing companies are posting more jobs online, like digital marketing, logo designing and animations.

According to Upwork, two million individuals in the United States have freelanced in the last twelve months, based on their studies. In other words, the proportion of the workforce involved in freelancing has risen sharply to a whopping thirty six percent!

What the future holds

While major markets and entire industries are grappling with the pitfalls of the pandemic, it can be said that the freelancing market has been comparatively better off. The ensuing chaos caused by COVID-19 forced companies to seek freelancers and minimize their risk of more contingencies.

Therefore, a booming gig economy is the direct consequence of the pandemic. In a new era of augmented connectivity, people can enjoy the benefits of freelancing, such as the variety and flexibility it provides. In some cases, it may be utilized to overcome unemployment concerns that millions are facing worldwide.

Freelancers are not bound by geographical restrictions and are willing to offer their services from the comfort of their own homes, which means they are a cost effective measure for companies who don’t need to invest in office spaces.

COVID-19 has had a devastating effect on entire industries around the world. However, it has also shown that digital platforms are essential and that remote work and freelancing can be a viable alternative.

COVID-19 has had a major impact of all kinds of economic activity worldwide. The arrival of the pandemic and subsequent protocols dramatically affected conventional economic activity. For instance, running errands in person was replaced by online orders. Likewise, as safety measures like lockdowns, social distancing and work from home were imposed, a lot of individuals turned to freelancing.

The impact on freelancing

As the economy was shuttered, millions utilized platforms such as Upwork, Fiverr and Freelancer.com to exhibit their skills and earn their livelihood. Research conducted by the World Economic Forum revealed that thirty to forty percent of the labor force were compelled to work in this capacity.

2020 witnessed a substantial rise in the number of freelancers employed full-time, a decision many took out of necessity and not by choice. Although the disruption in economic transactions meant that there was a shortage of jobs in the short term, the freelancing industry began to recover as many flocked from their traditional roles to virtual ones.

The ill-effects of COVID-19 are extensive, although freelancers believe the future is bright for their industry. Naturally, alterations in the job market have illustrated that online work has risen considerably in the last year or so. Mobile platforms were thriving and remote work became more convenient than ever. The outcome of this shift in the dynamic meant that the digital economy offered room for freelancers to meet the demand gap.

Positive signs

Similarly, a survey conducted by Payoneer, a popular online payment service, showed that businesses were more than willing to adapt to remote work, which was the cause for optimism for freelancers worldwide. Even though the vaccine rollout has surged in recent weeks, they expect the gig economy to flourish.

Furthermore, IBISWorld, a multinational marketing research firm, reported that agencies all over the world were keen to restructure their operations and shift to online work, which would be an advantage for freelancers. For instance, marketing companies are posting more jobs online, like digital marketing, logo designing and animations.

According to Upwork, two million individuals in the United States have freelanced in the last twelve months, based on their studies. In other words, the proportion of the workforce involved in freelancing has risen sharply to a whopping thirty six percent!

What the future holds

While major markets and entire industries are grappling with the pitfalls of the pandemic, it can be said that the freelancing market has been comparatively better off. The ensuing chaos caused by COVID-19 forced companies to seek freelancers and minimize their risk of more contingencies.

Therefore, a booming gig economy is the direct consequence of the pandemic. In a new era of augmented connectivity, people can enjoy the benefits of freelancing, such as the variety and flexibility it provides. In some cases, it may be utilized to overcome unemployment concerns that millions are facing worldwide.

Freelancers are not bound by geographical restrictions and are willing to offer their services from the comfort of their own homes, which means they are a cost effective measure for companies who don’t need to invest in office spaces.

COVID-19 has had a devastating effect on entire industries around the world. However, it has also shown that digital platforms are essential and that remote work and freelancing can be a viable alternative.