Saxo Bank publishes 'shocking predictions' for 2021

13:19, 08 December 2020
Saxo Bank publishes 'shocking predictions' for 2021 Photo: saxobank/

Danish investment bank Saxo Bank has published 'Shocking Predictions' for 2021. The annual forecasts of this bank are not official forecasts and only suggest possible events. So, in 2021, analysts predicted the collapse of some companies due to the overheating of economies, the desolation of megacities, and an increase in demand for the digital yuan.

The COVID-19 pandemic has dramatically increased the accumulation of debt burden in the global economy, which took on a dangerous scale even during the 2008 financial crisis. But during the pandemic, the economy was extremely 'overstimulated,' and after vaccination, it will overheat very soon, says the prediction.

Eliminating unnecessary jobs and moving to work from home during the pandemic will bring city offices' workload to zero. Commercial property prices will fall, and the profitability of stores and restaurants serving office workers will decline.

Both professionals and low-skilled workers in large cities will begin to quit due to the decline in the labor market offer. Because of this, cramped apartments in criminalized areas will lose their attractiveness, the bank said.

Moreover, Saxo Bank expects Amazon headquarters to move to Cyprus in 2021 in pursuit of lower taxation. Analysts expect global demand for the digital yuan and fake news will disappear thanks to the blockchain system in the coming year, Gazeta.RU reports. reported earlier that Russians would see their incomes decline in the new year, according to Maksim Krivelevich, associate professor of the Department of Finance and Credit at the FEFU School of Economics and Management.