The COVID-19 pandemic was one of the most significant global shocks since the Second World War, beginning as a health crisis and leading to severe economic downturns. Widespread social distancing brought about substantial changes in daily life and eco...
The COVID-19 pandemic was one of the most significant global shocks since the Second World War, beginning as a health crisis and leading to severe economic downturns. Widespread social distancing brought about substantial changes in daily life and economic activities. The pandemic exposed and exacerbated pre-existing vulnerabilities and inequalities within societies, raising concerns that it could further deepen these disparities.
This study aims to analyze the impact of the COVID-19 pandemic on individuals’ economic losses and how this impact varies according to individuals’ social characteristics, occupations, and familiarity with digital technology.
The empirical analysis, using Eurobarometer data from over 40 countries, shows that age, gender, education level, social status, and familiarity with digital technology are strongly associated to perceived economic losses during the pandemic. In particular, younger individuals, those with lower levels of education, and those with lower social status experienced greater economic losses. People with a positive attitude towards digital transformation felt fewer losses during the pandemic. Additionally, the economic impact of the pandemic varied by occupation, suggesting that the pandemic may have exacerbated existing inequalities.
The pandemic has also accelerated the Fourth Industrial Revolution, making the introduction of digital technology-based remote work inevitable, which may lead to long-term changes in the labor market and income distribution. In this context, it is essential to implement policies that reduce the digital divide and enhance the capacity of all groups to adapt to these changes. Moreover, sophisticated response strategies are needed to minimize sectoral and occupational disparities in the event of similar crises in the future. Such an approach is critical to ensuring sustainable development and strengthening overall societal resilience.