The Top 5 Economic Megatrends That Defined The Last Decade

As we are approaching the end of 2020, we are not only marking a new year, but we are also stepping into a new decade. The way the past decade had performed, it has only boosted our expectations from the upcoming decade.

While you feel like nothing has changed in your life since the past decade, the world has certainly changed for good.

As we are approaching the end of the decade, we thought this would be the best time to wait, see and reflect on how far we have sailed through this past decade.

Every industry has seen some of the significant changes. Whereas, some of the industries have changed completely.

The past decade was full of surprises with its new technological innovation and advancements. But the game-changer was the websites like the bitcoin revolution system.

Bitcoin was the first-ever digital cryptocurrency that was introduced in the market with the intent of providing users with a decentralized transaction medium.

Economic Megatrends That Defined The Last Decade

Over the past decade, there were several economic trends that stimulated the financial market of the world and brought significant changes.

Let’s have a look at them.

1. Technology

10 years is more than enough for dreams to become realities. It certainly stands true for the technologies. Ten years ago, Artificial technologies, Augmented reality, Virtual reality, vaunted technologies, E-commerce, and digital currency were just a dream.

But today, they have manifested themselves in the real world and are practiced on a large scale.

Technologies have been the most developed industries in the past decade. The things that were just a dream are now a reality and fundamentally support the society we live in.

The dawn of the next decade seems promising, and we can hope to see new life-supporting inventions.

2. Social Media

Today, social media is one of the most influential platforms. However, it was not the same a decade ago. Twitter was just a platform to follow your favorite celebrities, post microblogging content, and tell the world what you are up to. Social media was limited to that only.

However, today, it’s a place where most of the marketing and market-moving policies are unveiled.

Social media platforms have influenced our life to such an extent that companies have started using these platforms to directly contact their potential customers.

Also Read: Social Media Networks and Its Impact on Student Life

3. Cryptocurrencies

In the past few years, cryptocurrencies have really started attracting a considerable amount of attention. They bring with them the promise of a better financial future.

The steady increase in Bitcoins and other cryptocurrencies as strong financial investments backed by technology has led to a lot of investor confidence.

Bitcoin, along with Blockchain technology is steadily rising and promises to give life to newer forms of technologies and investments.

The present decade is going to be very important for cryptocurrencies as they attempt to go truly mainstream.

Also Read: 5 Things You Will Learn Using Bitcoin in Business

4. Pause on Globalization

Globalization is the only way to evolve yourself to the next level. However, there was a time in history when the world saw a pause in the globalization process.

You can say that it all started with Brexit with a political movement in 2016. This was the time when everybody wanted to lead globalization.

This made leaders from all around the world agitated. Hence, the relationship between the countries began to look inward

The fight for the trades and tariffs put every country in a boxing ring of the trade market. And since then, there has been discontent among the countries. We can only hope that this comes to an end in the decade we are about to step in.

5. Genetic Science

With technological innovation, humankind was able to find a way to trace back your lineage. This used to cost more than $100,000 in 2010.

However, in the past decade, the cost of decoding your DNA code has been reduced to a mere $1500. This has made it possible for the doctors to develop a personalized treatment for your health problems.

Advancement in genetics has created niche industries that welcome new companies to support and watch others decode the secret of the genome.