Impact Of Covid-19 On The Global Economy

Borislav Borissov
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Borislav Borissov: D. A. Tsenov Academy of Economics

Business Management, 2021, issue 4 Year 2021, 5-25

Abstract: The impact of the global crisis caused by the COVID-19 pandemic is pervasive and affects all countries and economic sectors. However, some businesses, that have been more resilient to its adverse effects than others, for which the negative effect has been catastrophic, can stand out. There are also differences in the size of the companies, as the small ones turned out to be more flexible and therefore suffered smaller losses. The article analyses the main financial indicators of global industries and their dynamics during the crisis, paying special attention to two of them – air transport and shipping. The main conclusion is that shipping, and in particular container transport, has proved to be more sustainable, while air transport has suffered huge losses. The explanation is that when people stop traveling to markets and goods, goods travel to people.

Keywords: global crisis; COVID-19; air transport; shipping (search for similar items in EconPapers)
Date: 2021
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Persistent link: https://EconPapers.repec.org/RePEc:dat:bmngmt:y:2021:i:4:p:5-25

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