The COVID-19 Pandemic: Unveiling the Transformative Impact on the Economy with Future Predictions
Year: 2025
Type: article
Abstract: The economy has faced major setbacks after the spread of COVID-19, and the inconvenience brought by the pandemic has caused a recession in the global economy. The pandemic has resulted in high unemployment rates, with workers having to work online, which has proven to be inefficient and has decreased productivity. The purpose of this paper is to predict the possible economic trend after the pandemic and how it will possibly recover from the declining Gross Domestic Product (GDP) growth rate. The paper also discusses the role of e-commerce during the pandemic, highlighting its crucial role during lockdowns and predicting how it will develop in the future. To promote credibility and accuracy, this paper has utilized secondary sources such as books, journal articles, and technical reports. The paper has determined that the global economy faced a major downturn during the pandemic, while the e-commerce field thrived. However, the global economy is recovering slowly and steadily after the end of the lockdown, while e-commerce continues to grow.
DOI: 10.54097/hc7ads38
Author: Zhixuan Zhang
Language: English
Topic: COVID-19 Pandemic Impacts
Subfield: Economics and Econometrics
Domain: Social Sciences
Open Access status: diamond
OpenAlex ID: W4413403429