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How the “New Normal” Economy is Impacting the Online Freelancing Industry

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A survey was done by Payoneer among thousands of freelancers.

Specifically, freelancers were asked to share how COVID-19 has impacted the demand for their services, their hourly rates, and what opportunities and risks they expect will arise from the crisis.

Here’s what they found out.

1. Demand for freelancers has dropped in the short-term.

Around 32% said the demand has decreased.

BUT…

23% of freelancers reported that business has remained as usual, with an additional 17% saying that *demand has actually increased* during this period.

2. Freelance hourly rates remain stable.

Despite the fact that some said the demand has dropped, a large majority shared that their rates have remained stable.

3. The future of freelancing post-COVID looks bright.

As our economy faces one of the toughest times in history, you might be thinking — what’s next?

Will the economy prevail?

More than 50% of freelancers agree that the demand will increase.

Sounds great, right?

Join us on this replay as we talk about how this “new normal” economy affects the online freelancing world.

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Jason Dulay

Jason Dulay

Jason is the founder and CEO of Work from Home Roadmap and VA Bootcamp. Aside from teaching Filipinos how to succeed working from home, he likes traveling, playing board games, and drinking coffee.

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