How quickly will 3D animation companies feel the pain from the economic crisis? As we can only speak for 3Dwalkthroughs.com our answer is…almost immediately. We have already had a few big projects put on hold as the development projects themselves have been stalled.
It is now about 1:40 on Monday afternoon and the Dow Jones has dropped below 10,000 points for the first time in 4 years. The markets have come to the sobering realization that the Bush administration’s $700 billion rescue plan won’t work quickly to unfreeze the credit markets, and that many banks are still having difficulty gaining access to cash. That’s caused investors to exit stocks and move money into the relative safety of government debt.
Source: AOL Money and Finance
My friends/clients that are in the real estate industry, from landlords to developers, have never been so bearish on the near term future of the economy. While a spotted few are saying this is a normal downturn in the markets, most are fearful that we are heading into a recession.
If property development slows down or comes to a halt altogether, 3D animation companies will be forced to adapt by shifting their focus to other industries that require 3D animation or looking for work in foreign companies.
Either way, almost all industries are in for some challenging times, how will yours survive?