Business Expert, CEO

Vik Bansal is a Life-Long Advocate of Inclusive Growth

How CEO Bansal believes Australia will survive post-pandemic

CEO Vik Bansal is a life-long advocate of inclusive growth. There is a strong case for developing more than one industry at a time and that the current focus of wealth and power in the hands of a few is at least partly to blame for the current pandemic. CEO Bansal believes that the current state of Australia will continue to thrive post-pandemic. The country will not just survive but thrive.

Why is diversity important?

Diversity, in the context of an inclusive economy, is the concept of having more people of all races, nationalities, and cultural groups living in the same place at the same time. Diverse communities lead to more remarkable growth, job retention, and innovation.

Culture change and inclusion

Diversity is about more than just having more people of all races, nationalities, and cultural groups living together. The concept of inclusion is about having all people from all backgrounds living in the same area – regardless of race, ethnicity, gender, or other characteristics. This includes people from different cultures, religious backgrounds, and other groups who may not traditionally have been part of that community. This is the importance of diversity: it is about having more people living in a place with less conflict and disadvantage.

Why diversity is so important

Diversity helps create a more just, such that people of all races, nationalities and cultural groups can feel safe, heard, and respected. It also gives those with different cultural or religious backgrounds the ability to interact and create new forms of connection. During the recent pandemic, many people lost the sense of community they once had. They felt separate from other people in the exact location, and they found it difficult to form social ties with others from other communities.

Australia’s diversity record

In their effort to address these challenges, the Australian government released a report estimating an average of 1,000 new people of different backgrounds living in Australia during the pandemic. That figure included people of all races, nationalities, and cultural groups and people with additional specific needs, such as individuals with disabilities, mental illness, and young children. That tragic figure includes people from other countries, such that the government has room for growth post-pandemic.

The future of entrepreneurship in Australia

The future of entrepreneurship in Australia is in the hands of entrepreneurs, mainly those with a proven track record of establishing successful businesses. Many new entrepreneurs, including those without a proven track record, are setting up businesses after the pandemic. Entrepreneurs with proven track records will always be able to commercialize their products and services, as they have been doing for decades. Therefore, there is a solid case that an enterprise with a proven track record can secure the future of entrepreneurship in Australia.


The pandemic has been a tough year for customers and employees and the businesses that depend on them. This, combined with a tough market, has led to a dip in Australia’s tourist and hotel industries during this year’s tourist season. This has led to a decline in tourists spending money in Australia.