The New Economy_ruthson-zimmerman-FVwG5OzPuzo-unsplash

The New Economy

The world economy has never changed more rapidly than in 2020. Regal Cinemas has announced that they will be closing all 536 locations, while streaming services are having a banner year. Although we are in the midst of significant recession due to the pandemic, housing prices are skyrocketing because of low interest rates. Retailers can’t put bicycles on their shelves fast enough. And one of the biggest companies in the world, Disney, has been unable to open some of their theme parks. Unprecedented numbers of restaurants are closing every day, while grocery sales are sharply higher than last year.

In this unrecognizable economy, another significant change that has occurred is that so much business is now being done remotely. From our meetings on Zoom to our increase in online transactions, many key components of our industries are looking very different. Software development is no exception. Certain sectors of the tech industry who would never have considered going remote have been forced to adapt to a remote model in order to stay competitive. There has never been a better time to explore the concept of nearshoring remote developers as a way to adapt to our new economy.

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