Covid-19 digital economy, Covid digital economy

The world moving towards digital economy after Covid-19

CNN anchor and columnist Fareed Zakaria thinks that after the Covid-19 pandemic struck, the world has greatly moved to digital economy with an explosion in online shopping and viewing of movies, Amazon taking market shares each day from other companies, and book sales going up.

Elaborating his point further, he said Amazon had 30 per cent of the market share before the pandemic but it now stood at 60 to 65pc, said a report.

He was speaking to Lahore Literary Festival’s chief executive officer (CEO) Razi Ahmed during the launch of his book, Ten Lessons for a Post-Pandemic World, on Sunday. Journalist and diplomat Maliha Lodhi was the other panelist.

“This may be the most significant event of our lives. 9/11 had a great effect on the countries like Pakistan and the US but it was still limited to a number of countries that faced its repercussions. This pandemic has impacted the life of every human being on the planet, including the change in the nature of work, the shift to digital economy,” Mr Zakaria continued.

Speakers at Lahore Literary Festival see explosion in online shopping, movie watching

He said the impact of the pandemic would be greater than what people thought and the world was going to be in this situation for a while. The development of the vaccine in nine months was a miracle and it had astonishing success, but the process of vaccination was different and slow, he explained.

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