Financial Impact of COVID-19 on the Livelihood of Urban Poor: A Study on Dhaka Metropolis Slum Dwellers of Bangladesh

Mamun Muhammad Ziaulhaq ()
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Mamun Muhammad Ziaulhaq: Former Professor and Director, Institute of Business Administration (IBA), University of Dhaka, Bangladesh

International Review of Financial Consumers, 2023, vol. 8, issue 2, 21-35

Abstract: This research explored urban slum dwellers’ financial repercussions during COVID-19 in Bangladesh. The study investigated financial implications using 51 attributes grouped in seven categories related to work/jobs, wage/earning, stakeholders, savings/expenditure/debt, food, family well-being, and offspring. The study noted that during Covid-19 households are affected in almost all the attributes and areas. Notable attributes are surpassed expenditure over income, more spending, no more saving, spending from savings, more spending due to commodity price hikes, reduced income due to lockdown, reduced other income-generating activities, difficulty in payment of utility and other bills, extra fare to reach workplaces, more spending on transportation, failure to repay loans, family members living without required medical care/services, and work scarcity. Financial implications related to savings, expenses, and debt are the highest concern for the slum dwellers, followed by family well-being, work/job, wage/income, and stakeholder related financial implications. Least impacted implications are food and offspring related. Overall, Covid-19 ruthlessly impacted the financial wellbeing of the households responding to this survey.

Keywords: COVID-19; family well-being; financial insecurity; income loss; slum dwellers; Bangladesh (search for similar items in EconPapers)
Date: 2023
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Persistent link: https://EconPapers.repec.org/RePEc:vrs:irfinc:v:8:y:2023:i:2:p:21-35:n:1002

DOI: 10.36544/irfc.2023.8-2.2

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