The socio-economic implications of the coronavirus pandemic (COVID-19): A review
Maria Nicolaa b✉, Zaid Alsafic d, Catrin Sohrabie f, Ahmed Kerwang h, Ahmed Al‐Jabirh i, Christos Iosifidisf j, Maliha Aghak l, Riaz Agham n
- aImperial College Healthcare NHS Trust, London, United Kingdom. Electronic address: maria_n02@hotmail.com
- bImperial College Healthcare NHS Trust, London, United Kingdom
- cUCL Medical School, University College London, United Kingdom. Electronic address: zchazal@ucl.ac.uk
- dUCL Medical School, University College London, United Kingdom
- eBarts and the London School of Medicine and Dentistry, Queen Mary University of London, United Kingdom. Electronic address: ha17021@qmul.ac.uk
- fBarts and the London School of Medicine and Dentistry, Queen Mary University of London, United Kingdom
- gGKT School of Medical Education, King's College London, United Kingdom. Electronic address: ahmedkerwan@live.co.uk
- hGKT School of Medical Education, King's College London, United Kingdom
- iGKT School of Medical Education, King's College London, United Kingdom. Electronic address: ahmed@aljabir.co.uk
- j
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Abstract
The COVID-19 pandemic has resulted in over 4.3 million confirmed cases and over 290,000 deaths globally. It has also sparked fears of an impending economic crisis and recession. Social distancing, self-isolation and travel restrictions have lead to a reduced workforce across all economic sectors and caused many jobs to be lost. Schools have closed down, and the need for commodities and manufactured products has decreased. In contrast, the need for medical supplies has significantly increased. The food sector is also facing increased demand due to panic-buying and stockpiling of food products. In response to this global outbreak, we summarise the socio-economic effects of COVID-19 on individual aspects of the world economy.