COVID-19 pandemic has numerous social and economic consequences for people. In addition to the apparent effect of illness or death of many people, quarantine measures have affected all global processes in the world. Many people struggle through social and economic hardships, as well as the inability to receive proper treatment for other diseases. Thus, a significant part of the population is experiencing the negative effects of COVID-19 in daily life.
First of all, the pandemic affected the world from a healthcare system perspective. The disease may not show symptoms for a long time, which complicates quarantine measures. Treatment of already ill patients is a burden on hospitals, resulting in many patients with other diseases being neglected. Moreover, doctors are forced to work many hours with COVID patients, which is exhausting and dangerous for their own health. The response to such difficulties are presented in additional funding, the creation of new hospital units, and doctors’ selfless work.
From an economic point of view, the consequences seem to be the most significant. First of all, because of the quarantine, entrepreneurship in many countries is suffering greatly. Salaried workers are often in quarantine, which worsened the financial situation of their employers. In everyday life, many people lose their jobs, and their income decreases significantly, which increases the number of poor households. People respond to economic problems by optimizing their operations, looking for more relevant goods to manufacture, or new jobs.
The service sector suffers to a greater extent since quarantine measures limit people’s ability to visit various institutions or travel. The lack of such entertainment as movies or bars puts significant stress on the population. Moreover, many people are forced to be isolated without family and friends, which negatively affects their well-being. The response to the social challenges caused by the pandemic is not always a deliberate violation of quarantine measures, as people often cannot cope with a sudden distancing from society.
The COVID-19 pandemic appeared to be an unexpected challenge for the whole world and the global economy as well. The healthcare system is under significant pressure to control the disease’s spread, which deteriorates the quality of health services. The economic situation of entrepreneurs, industries, and ordinary people also suffers, which jeopardizes many households’ well-being. Moreover, social isolation can be stressful for many people and their families.