The global pandemic has changed how we live, and likely how we'll continue to live in the future. One of the most significant changes to come out of this period is a shift in the economy towards technology-driven digital services.

From online entertainment to iGaming, technological advancements have allowed countries around the world to create new economies and job opportunities for their people.

What are the technological advancements that have benefited economies?

Developing nations' use of technology has had a significant impact on their economies, lowering production costs at home, setting quality standards, and enabling cross-border communication. Furthermore, it has only lately been realized that there is a need for technologies suited to the capacities of the underprivileged in emerging nations. Uneven distribution and penetration of technology throughout the nation is a significant barrier to its spread in low-income countries that continues today.

E-commerce

The exchanging of goods over an electronic network is known as e-commerce. This practice has caused significant changes in the economy over the past ten years. Large commercial merchants like Amazon now control the market. The way we do business has evolved as a result of entrepreneurs leveraging technology, and even lone firms are now conducting transactions on Amazon's platform. Information technology-enabled electronic commerce, or e-commerce, is the driving force behind several transformations and the birth of a new economy. 

Online Entertainment 

One of the most significant changes in the global economy during this time has been the shift toward online entertainment. With travel restrictions and social distancing protocols having been put in place, people have had fewer opportunities for social interactions and recreational activities. As a result, millions of people worldwide turned to streaming services such as Netflix, Amazon Prime Video, and Disney+ for entertainment. This led to a surge in demand for content creators, who can now make money from producing vide