Throughout the coronavirus pandemic, Asia nations’ unemployment rates have generally remained stable. In Hong Kong, for example, unemployment only increased by 3.1% year-on-year in May, which pales in comparison with the rate of joblessness in countries like the US.
However, this isn’t true in every case, with unemployment in the Philippines (which is heavily reliant on tourism) set to triple here to 17.7%.
Things could also get worse before they improve, so it’s important that citizens consider new ways of generating income as the job market contracts. Here are some ideas to keep in mind:
1. Undertake Online Surveys
As the threat of secondary coronavirus spikes continues to loom large in Asia, public organisations are looking to engage volunteers in research projects so that they can learn more about the virus.
These on and offline surveys will require you to answer a host of questions and potentially agree to some sort of testing, while you’ll most likely be rewarded with cash or vouchers that can be redeemed at selected stores.
You may also be able to access a host of other survey opportunities across an array of industries, enabling you to create a viable source of sustainable income over time.
2. Learn to Trade the Financial Markets
Asia is also synonymous with the financial markets, while the Asia-Pacific forex trading session is one of the most lucrative and volatile from the perspective of traders.
This creates an ideal opportunity to generate a stream of passive income, and one that can be both impressive and considerably higher than your initial capital investment.
Of course, you’ll need to build a viable base of knowledge before looking to crack this market, while it’s also crucial that you use a demo account to hone your understanding and test practical trading strategies in a simulated market environment.
Just be sure to approach this market with caution, while looking to scale your efforts organically in line with rising profits and awareness.
3. Participate in Market Research
Brands are increasingly inclined to seek out the opinion of customers in the modern age, while this need becomes increasingly pressing during times of change and austerity.
So, there’s now a great opportunity to become an active market research participant, enabling companies to access your insight and opinions while rewarding you with vouchers, products or services as applicable.
This may require you to articulate or opinion through either verbal or written means, while you may even have to interact as part of a discussion group.
Either way, this can be a lucrative endeavour, and one that provides a raft of diverse and enjoyable rewards.