The Impacts of COVID-19 Pandemic on Business and Economies: Global Perspectives

Abstract

Different types of industries and businesses are directly and indirectly affected by the coronavirus. The economies of different countries were damaged severely; and the overall performance of such economies gets stepped backward for almost 20 years in terms of growth and development. The aim of the study is to analyze and evaluate the overall impact of the coronavirus pandemic on different types of industries and economies from a global perspective. For the analysis, the secondary sources of data is used which includes different types of articles, research papers, books, and reports published by the authors of different countries. This paper concludes that several types of business functions got severely hampered but there are some types of businesses which had gained advantages in terms of business functionality and scope. Different types of industries encountered different types of situations; most of the businesses had faced extremely bad situations whereas some from the healthcare industry such as, sanitizer, and mask manufacturing, and e-commerce-based businesses gained huge advantages.