COVID-19 Cross-Sector Impact – Thematic Research (January 2021)
- Pages: 214
- Published: January 2021
- Report Code: GDCOV-TR-X057
This report analyzes the impact of COVID-19 across industry sectors. It provides side-by-side analysis of alternative datasets to present you with unique quantitative analysis of the effects of COVID-19 and how these differ across sectors. We also provide qualitative analysis of each sector and analyse COVID-19’s impact on leading companies.
According to Johns Hopkins University data, by 2 December 2020, COVID-19 has claimed 1,460,000 lives. The pandemic forced governments to impose rigid lockdowns that essentially shut down the worldwide economy for many months. With the exception of China, all major economies are expected to shrink this year. Unemployment levels have increased at jaw-dropping rates.
The COVID-19 recession has not been caused by a demand shock, rather, it is a policy-driven supply shock designed to save people’s lives. Consequently, the strategies—of governments and companies—that will be used in the economic recovery could be different from previous recessions.
Despite the substantial uncertainty regarding the economic downturn, this could well be the first recovery with a focus on sustainability. The human cost of COVID-19 extends beyond infection and into the broader economy. Companies that ignore social, environmental and governance issues could face significant customer backlash. Governments are already showing signs that sustainability—particularly green energy—will feature strongly in stimulus programs.
The way we live our lives has been changed permanently. However, the extent to which human life will change will be affected by two competing factors: the longevity of COVID-19’s presence and the speed with which a vaccine is developed. Most enterprises successfully transitioned to work from home; few will revert back to pre-COVID-19 practices. Many staff will opt to work from home at least part of the week. There will be ramifications for the way we plan our future cities and future transportation networks, as well as for the commercial property sector.
Table of Contents
Winners and losers