Title: Impacts of Covid-19
Author: Lakshmi Vijayan_MBA HR_10007

Impact on economy
1. The Economic Impact Of Covid-19 Pandemic At The Beginning Of 2020
Towards the end of 2019, several people in the Wuhan region (China) showed symptoms of pneumonia of unknown origin. The cause was later discovered in the form of a new coronavirus (SARS-CoV-2) highly contagious and, in some cases, even lethal. Thus, the 11 million Wuhan citizens are put in total quarantine for two months. The number of infections is growing exponentially, reaching a total of 10.1 million cases and more than 500,000 deaths worldwide at the end of June 20 203. Initially, Italy, then Spain, France and Great Britain were the states most affected by the pandemic, but later, USA, Russia, India, and the South American countries were forced to face a huge wave of infections. In order to reduce the spread of the virus and its effects on the health of their own citizens, most affected states have declared a state of emergency/necessity, imposing measures that restrict some rights and freedoms, such as:
• limiting/restricting the movement of people and physical distancing;
• (self) isolation at home, hospitalization or quarantine of infected persons and other categories of citizens;
• partial/complete border closures for foreign nationals;
• reduction/suspension of certain transport services (air, rail, road), except freight;
• reduction/cessation of economic activities by carrying out work from home or sending employees to technical unemployment;
• closure of schools, shopping malls, hotels, casinos, clubs, restaurants and public places, sports and cultural centers;
• closure of parks, children’s playgrounds and urban open spaces;
• Suspension/cancellation of social activities with the participation of large number of people, etc.
According to the article published by Băhnăreanu, Cristian the first signs of economic crisis start in the year 2019 when people from Wuhan, China started having pneumonia like symptoms from an unknown origin and started killing several people. This made government of China to quarantine 11 million people residing in Wuhan for 2 months. By the start of 2020 Italy, Spain, France, Great Britain were the most affected states, soon it spread across the globe. Many countries including India had to go for a strict quarantine rules in which people were restricted to get out of their houses for months.
This led to closure of restricted people from having get-togethers, educational institution, going to public places like parks, malls, hotels, suspension of transport services etc.. This started impacting the business and livelihood of the common people.

Food Industry
2. Analysis of the Impact of COVID-19 on the Food and Beverages Manufacturing Sector
The suppliers of the Food and Beverages Manufacturers have also been impacted by COVID -19, influencing manufacturing operations. High value commodities of fresh fruit, vegetable, and fish are affected by the potential shortage of migrant seasonal labor for fruit picking, harvesting, etc. [8,12]. According to FAO [13], the fishing industry in many countries is considered critical for food production and supply; however, due to COVID -19, the fishing industry is facing two main problems of disrupted supply chain and declining markets, resulting in disruptions in transportation, trade, and labor. Disruptions in these lead to delayed stock and lower supplies, access, and consumption of these foods [13]. Fish farmers who cannot sell the fish must now keep larger volumes of fish that need to be fed, increasing costs and risks [14]. The production of aquaculture may also be affected by the ability to purchase feed and seed due to cargo restrictions and prioritization [14]. Health safety measures of physical distancing and face masks can make fishing difficulty even to the point of reducing or stopping it [14]. If a crew member has the virus, it can easily spread to other members, and medical assistance may not be easily accessible due to being out at sea.
In this article by Telukdarie, Arnesh ; Munsamy, Megashnee ; Mohlala, Popopo we can study the impacts on how COVID-19 has affected several food and beverage manufacturing sectors across the globe. The demand for several food products had increased but due the shortage of supply several countries had to face a lot of problems. The lowering of productions impacted the other connected business like supply chain, warehousing etc… The restrictions imposed even led to shortage of labors used for traditional handpicking of fruits and vegetables which in turn made huge losses to the framers as it got ripped. Beverage industries also impacted by people refusing to by beverages from outside and preferred homely foods and drinks.
Small Business
3. Evidence from the Impact of Covid-19 on Small Business
The pandemic has provided more reasons to look for ways of substituting machines for workers to safeguards against it. Women with mid and lower wages seem to be most at risk in the labor market (Chernoff and Warman 2020). There has already been a declining trend in productivity growth for more than a decade and the pandemic has intensified this trend by increasing uncertainty about growth prospects, intervening on human capital accumulation and raising concerns about the viability of global value chains (Dieppe 2020). Understanding which groups of firms and people are more vulnerable and what is needed to help them to adapt and recover are critical issues and researches are trying to provide some answers. According to a study about 100.000 businesses in developing countries, the pandemic has severely impacted firms, especially on sales. Governments have taken measures to prevent unemployment. The short-term effects were mainly in increasing holidays and reducing the number of working hours, thus fewer companies than expected have actually switched to redundancies. Financial obligations such as fixed costs with rent and interest were difficult to be paid while sales have contracted drastically. Smaller firms tend to face more severe financial constraints during COVID-19 even in advanced countries. During this period, the companies focused more on the distribution of products and services in the digital environment, due to the restrictions imposed. This happened with different intensities all around the world, at least for small companies that did not have the knowledge and amounts for investments.
In this article by Bostan Motoaşcă, Nicoleta Gianina tells us about how small scale businesses are impacted by COVID-19. In labor market women are most impacted because of the low or no wages stage. People working in sales were also impacted. Many industries during the pandemic have reduced the human interventions and have started using technologies and robots for more production. Many small scale industries had to forcefully give their employees holiday to reduce the working hours as it became difficult for them to give salaries and wages. But with the pandemic the use of online platforms have increased. And the reach of products became more.
4. Impact of Covid-19 pandemic on vegetable farmers in North Sumatra
North Sumatra is one of the centers of horticultural agriculture in Indonesia. Horticultural products in North Sumatra thrive, such as vegetables, fruits, ornamental plants, and many cultivated medicines whose results are not only fulfilling local needs but also exported abroad [8]. Seasonal vegetable and fruit crops are widely cultivated in North Sumatra. Plants that are superior commodities in North Sumatra in 2019 include chilies, cayenne pepper, long beans, cauliflower, potatoes, cabbage, Chinese cabbage, eggplant, tomatoes, and carrots. These ten types of superior plants have the largest production capacity of the 26 seasonal vegetable and fruit crops in North Sumatra. The largest vegetable production is chili, which is 154,008 tons with a harvest area of 16,076 hectares. In general, the areas that are the centers of vegetable crops in North Sumatra are in highland areas such as Karo and Simalungun Districts [9].
In this article by Moral Abadi Girsang, Imelda Marpaung, D Parhusip, L Haloho, S P Tobing, P Nainggolan and S Hidayat tells us about how in small state like North Sumatra in Indonesia horticultural agriculture got impacted of the pandemic. They have the largest production of chilly and other vegetables. The major losses came into picture when there was an increase in the fertilizers and pesticides which gradually reduced the farmer’s income. Transportation of the cultivated goods where the most difficult part during the pandemic as there was several rules and regulations imposed.
5. The Impact of COVID-19 on Hospitality Industry in Greece and Its Treasured Santorini Island
The paper also proposes three possible scenarios for tourism development in the near future, which means the year 2021. The first scenario counts for the current situation and the increasing number of new COVID-19 positive cases worldwide. Related to that, there have been many restrictions and bans on international travel and therefore the scenario expects a similar statistical outcome for season 2021 to the year 2020. The second scenario is an optimistic one. Due to the new vaccination and its coverage, the scenario expects the return of tourism on Santorini and increasing numbers of tourists (comparing with 2020 season) and slowly coming back to the numbers from previous years. The third and rather negative or pessimistic scenario describes the changes in tourism, different trends, and behavioral changes among people that tend to travel. Additionally, the financial impacts on locals, lack of saved money in 2020, and bankruptcy of many key players will cause the majority of people depending on tourism to have to change their jobs and find something else for their livelihood.

In this article by Macková, Lucie VIAFID ORCID Logo ; Harmacek, Jaromir tells us how their countries tourism industry has go impacted and the different scenarios. The first scenario they are predicting is about the increase in the cases all around the world because of which the travel ban will be imposed and there will be fewer tourists. The second scenario talks about how people are getting vaccinated and slowly the tourism industry will shoot up. The third scenario is rather little negative were the behavior of tourist will change and there will be losses and bankruptcy and the livelihood will get impacted.
6. The impact of the Covid-19 pandemic on broiler farms in Moncongloe District, Maros Regency South Sulawesi
However, after the outbreak of the Covid-19 pandemic in Moncongloe Subdistrict, Maros Regency, the breeders felt very badly and there was absolutely no positive impact they felt, The purchase price of live chickens which suddenly dropped due to the selling price was far from the production price made broiler breeders stop raising livestock, in addition to that the decline in sales turnover made the breeders worse off. This is in line with [6] stated that the positive and negative impacts of course will not be separated from social and economic aspects. The first negative impact that can be felt immediately due to the corona virus outbreak is the decline in economic growth. However, if the lockdown is not immediately enforced, the virus will continue to enter areas that were not previously infected and worsen an area that is already infected.
In this article by Sain, F A ; Asnawi, A ; Nurlaelah, S the study that the broiler chicken farm was in high profit before the covid outbreak but got impacted by the virus. The prices of the chicken started dropping which impacted the sellers and ultimately the business went in loss. Framers stated that if the virus starts to spread more they would end up in heavy debt.
7. The Impact of COVID-19 on the Insurance Industry
This study investigated the impact of COVID-19 on the insurance industry by studying the case of Ghana from March to June 2020. With a parallel comparison to previous pandemics such as SARS-CoV, H1N1 and MERS, we developed outlines for simulating the impact of the pandemic on the insurance industry. The study used qualitative and quantitative interviews to estimate the impact of the pandemic. Presently, the trend is an economic recession with decreasing profits but increasing claims. Due to the cancellation of travels, events and other economic losses, the Ghanaian insurance industry witnessed a loss currently estimated at GH Ȼ112 million. Our comparison and forecast predicts a normalization of economic indicators from January 2021. In the meantime, while the pandemic persists, insurers should adapt to working from remote locations, train and equip staff to work under social distancing regulations, enhance cybersecurity protocols and simplify claims/premium processing using e-payment channels. It will require the collaboration of the Ghana Ministry of Health, Banking Sector, Police Department, Customs Excise and Preventive Service, other relevant Ministries and the international community to bring the pandemic to a stop.
The article written by Babuna, Pius Babuna, Pius et al tells us about the impact of insurance industry in Ghana. They have used qualitative and quantitative interviews to estimate the impact of the pandemic, Ghanaian insurance industry had huge losses because of too many cancellations of travels and events. But at the same time development of remote locations improved.
8. The Impact of Covid-19 Pandemic on Different Sectors of the Indian Economy: A Descriptive Study
The Coronavirus pandemic has damaged India’s economy. In the same way as other industries, the gem business also has been hit hard attributable to a considerable rundown of dropped or deferred occasions, shows, displays, and weddings for the following span of months. People are not spending money on luxury items and more concentrated towards putting their money on hygiene stuff or grocery products. As the Coronavirus alarm held purchasers, the gems and adornments industry lost its sparkle. As a prudent step, the administration has urged the citizens to delay wedding capacities and endeavor out for fundamental commodities during the lockdown- the Indian gems market blossom with weddings. The business further lost its gloss on Gudi-Padwa which fell during the lockdown and again, an extraordinary chance to clock high deals was lost. While the businesses are as yet exploring money related difficulties, the outcome of Coronavirus on the gold industry is by all accounts overwhelming. Thus, the businessmen at this very point bringing about enormous misfortunes in the Indian market.
This article written by Gurpreet Singh Sidhu et al tells us about the impact of gold industry in India. Customers are not spending money on luxury items and have now turned their interest more on grocery and other personal care items. As weddings were getting postponed the demand for gems decreased. In India Gudi Padwa is one of the super bumper day for all jewelers as people believe it as an auspicious day to buy gold.
9. Impact of COVID-19 Social Distancing Policies on Traffic Congestion, Mobility, and NO2 Pollution
Impact of Political Regulations during COVID-19 on Consumer Satisfaction LevelsIn mid-March 2020, the Austrian government asked people to reduce their social contacts and the first nationwide lockdown began on the 16th of March. Although the lockdown did not include grocery retail, it had a huge impact on consumer satisfaction, as depicted. Following this first lockdown, the Austrian Government made it compulsory to wear masks in early April. Although implementing these strategies potentially reduced the number of new COVID-19 cases, the average consumer satisfaction level across the country continued to decrease.

The impact of covid has made a lot of changes in the lifestyle of the entire world. The Austrlian government has also made a lot of changes in their rules like stricter social distancing etc. since there was no restrictions for buying groceries this impacted customer satisfaction and reached it on top.
10. COVID-19 impact and survival strategy in business tourism market: the example of the UAE MICE industry
The industry of meetings, incentives, conferences and exhibitions, commonly known under the name of MICE, contributes to economic diversification and actively stimulates the rational use of cultural-historical and natural recreational resources. As of 2019, the total contribution of the tourism sector to the GDP of the United Arab Emirates (UAE) equaled 11.5 per cent. More than 2.3 million visitors cited business as their main purpose of travel to Dubai in 2019, marking a two per cent increase compared to 2018. Thus, the UAE MICE industry was among the global leaders before the COVID-19 pandemic occurred. As a result of severe quarantine measures, the majority of destinations all over the world introduced COVID-19-related travel restrictions that were valid until May 2020. In the UAE, like in any other country, the coronavirus pandemic affected every industry, and especially the MICE one. Even though the consequences of COVID-19 have been multiply analysed by many UAE researchers, its global and local impact on the MICE industry, as well as the strategies for MICE companies’ survival, are described insufficiently.
As we all know UAE is one of the fastest developing countries in the global market. As per the article written by Aburumman, Asad A the pandemic has hit UAE’s MICE(meetings, incentives, conferences and exhibitions) which impacted its GDP as tourist visits from countries got banned and the quarantine rules made more difficulties. Many companies including Emirati Airlines had a huge material loss. With the UAE government studying several problems they decided to apply several strategies to overcome losses.

1. Băhnăreanu, Cristian, PhD “The Economic Impact Of Covid-19 Pandemic At The Beginning Of 2020” Carol I” National Defence University -2020.
2. Telukdarie, Arnesh ; Munsamy, Megashnee ;Mohlala, Popopo “Analysis of the Impact of COVID-19 on the Food and Beverages Manufacturing Sector” MDPI AG-2020
3. Bostan Motoaşcă, Nicoleta Gianina “ Evidence From The Impact Of Covid-19 On Small Business” Transilvania University of Brasov-2021.
4. Moral Abadi Girsang ; Marpaung, Imelda ; Parhusip, D ; Haloho, L ; Tobing, S P ; Nainggolan, P ; Hidayat, S“Impact of Covid-19 pandemic on vegetable farmers in North Sumatra” IOP Publishing-2021
5. Macková, Lucie VIAFID ORCID Logo ; Harmacek, Jaromir “The Impact of COVID-19 on Hospitality Industry in Greece and Its Treasured Santorini Island” MDPI AG-2021
6. Sain, F A ; Asnawi, A ; Nurlaelah, S “The impact of the Covid-19 pandemic on broiler farms in Moncongloe District, Maros Regency South Sulawesi”- 2021
7. Babuna, Pius ; Yang, Xiaohua ; Gyilbag, Amatus ; Awudi, Doris Abra ; Ngmenbelle, David ; Bian, Dehui “The Impact of COVID-19 on the Insurance Industry” 2020
8. Gurpreet Singh Sidhu; Jaskirat Singh Rai; Kanwarvir Singh Khaira; Kaur, Sarabjit The Impact of Covid-19 Pandemic on Different Sectors of the Indian Economy: A Descriptive Study”-2020
9. Impact of COVID-19 Social Distancing Policies on Traffic Congestion, Mobility, and NO2 Pollution-2021
10. Aburumman, Asad A “COVID-19 impact and survival strategy in business tourism market: the example of the UAE MICE industry” Palgrave Macmillan 2020