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Socio-Economic Impacts and Challenges of the Coronavirus Pandemic (COVID-19): An Updated Review

Author

Listed:
  • Orestis Delardas

    (UCL Energy Institute, University College London, London WC1E 6BT, UK)

  • Konstantinos S. Kechagias

    (Society of Meta-Research and Biomedical Innovation, London W12 0BZ, UK
    Department of Metabolism, Digestion and Reproduction, Faculty of Medicine, Imperial College London, London SW7 2AZ, UK)

  • Pantelis N. Pontikos

    (Department of Maritime Studies, University of Piraeus, 18534 Athens, Greece
    Department of History and Archaeology, School of Philosophy, University of Athens, 18534 Athens, Greece)

  • Panagiotis Giannos

    (Society of Meta-Research and Biomedical Innovation, London W12 0BZ, UK
    Department of Life Sciences, Faculty of Natural Sciences, Imperial College London, London SW7 2AZ, UK)

Abstract

The coronavirus disease 2019 (COVID-19) pandemic has shaken up the socio-economic order on a global scale with interventions designed to curb the spread of the disease bearing multiple and reinforcing impacts on several aspects of economic and social lives. The effects of COVID-19 were diverse and often spilled over different or interdependent industries. Economies were hit top-down and bottom-up while businesses and individuals alike endured significant changes that altered national and international supply and demand trends for products and services. The primary and secondary sectors were especially influenced by supply shortages while services and education were largely demand-driven. Monetary policies were specifically targeted to ease these disruptions while protective measures for employees in many cases constrained business competitiveness. The present study provided a cross-sectoral (primary, secondary, tertiary, and quaternary sectors) outline of the implications and challenges since the start of the crisis, centralising important information and offering a view of the current socio-economic situation.

Suggested Citation

  • Orestis Delardas & Konstantinos S. Kechagias & Pantelis N. Pontikos & Panagiotis Giannos, 2022. "Socio-Economic Impacts and Challenges of the Coronavirus Pandemic (COVID-19): An Updated Review," Sustainability, MDPI, vol. 14(15), pages 1-13, August.
    • Handle: RePEc:gam:jsusta:v:14:y:2022:i:15:p:9699-:d:882007
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    References listed on IDEAS

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    1. Igor Britchenko & Oksana Polinkevych & Viktor Trynchuk & Inna Khovrak, 2023. "The Impact of COVID-19 on the Philosophy of Doing Business in a Sustainable Environment," Economic Studies journal, Bulgarian Academy of Sciences - Economic Research Institute, issue 2, pages 100-116.
    2. Vitaly Kaftan & Wadim Kandalov & Igor Molodtsov & Anna Sherstobitova & Wadim Strielkowski, 2023. "Socio-Economic Stability and Sustainable Development in the Post-COVID Era: Lessons for the Business and Economic Leaders," Sustainability, MDPI, vol. 15(4), pages 1-18, February.

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