Post-pandemic Economic Transformations in the United States of America

Abstract

The COVID-19 pandemic has impacted economic activity not only in the United States, but across the globe. Lockdown and travel restrictions imposed by local authorities have led to change in customer preferences and thus transformation of economic activity from traditional areas to new regions. While most changes have been temporary and short term, some of them have been observed to be of permanent nature. Using large-scale aggregated and anonymized transaction data across various socio-economic groups, we analyse and discuss such temporary relocation of citizens' economic activities in metropolitan areas of 15 states in the US. The results of this study have extensive implications for urban planners and business owners, and can provide insights into the temporary relocation of economic activities resulting from an extreme exogenous shock like the COVID-19 pandemic.