May 18, 2024

Recovery from the pandemic is on the way across the globe, and several industries, including online services, present opportunities in the post Covid-19 era, according to an economist.
David Sit, assistant principal economist at Hong Kong Trade Development Council, said e-commerce, e-healthcare, and different sorts of digital services like e-financial services will thrive even after the pandemic.
Sit said the global smart healthcare market could grow by $224.86 billion in five years until 2024.
He said multiple new sectors under smart healthcare that have yet to develop include telemedicine, healthcare management platform, smart medical device, and assistive robotics.
“For online education, it is just a beginning,” he said in a webinar.
Sit said adoption of education technology during lockdown could be increased, such as analytics and artificial intelligence-assisted grading.
He added the market size in Asia Pacific for online education is expected to grow to over $90B by 2026 from $35B in 2019.
Sit said recovery is on the way but uneven between and within countries with high uncertainties due to resurgence of the Covid-19.
He said recovery differs depending on the implementation of pandemic control and vaccination programs, economic structure, and policy support.
Sit also expects the consumer markets along the Belt and Road Initiative (BRI) countries to grow by 50 percent of the global consumer market.
China’s BRI aims to bolster connectivity in Asia, Africa, and Europe through trade and investments in infrastructure. – PNA