Author Canan Sevgili, Paolo Laudani, Alessandro Paroda and Alberto Chiumerto
(Reuters) – Five years after the World Health Organization first described the outbreak of Coid -19 Coronavirus as a pandemic, its effects continue to feel on the global economy.
Coid-19 and efforts that the restraint were launched by a record government debt, hit the labor markets and moved the consumer behavior. The inequality increased, while remote work, digital payments and changes in travel patterns.
Although the immediate shock has passed, the inheritance of the covid-19 is still transforming the global economy and markets.
Here are some of the main influences.
After the countries borrowed money to protect the welfare and the funds for life, the debt of the global government increased by 12 percentage points of 2020, and a steep increase recorded in emerging markets.
Pandemia encouraged the high level of inflation, which proved to be the main care in the 2024 elections. Encouraged by spending after locking, government packages of stimuli and lack of work and raw materials, inflation in many countries peaked in 2022.
To compensate for growing prices, central banks have increased interest rates, although the intensity of their interventions has greatly varied.
Credit ratings, which reflect the ability of the country to return their debts, were lower because the economies were closed, and the governments took over a huge amount of additional debt to fill the holes left in public finances.
Fitch grades show that the average global loan result remains a quarter of the comma lower than the pandemic began, reflecting financial challenges worsening with pandemia, inflation and stricter financial conditions.
For less rich countries on the emergence market, the average remains about half lower.
Lower credit ratings are generally converted to higher borrowing costs in the international capital markets.
Pandemi has caused millions of job losses, with worse households and women are the most severely hit by the World Bank.
As the lockings were facilitated, employment gained momentum, but with a significant shift towards sectors such as catering and logistics due to the growing small delivery sector.
The participation of women in the workforce fell in 2020, mainly due to excessive national teams in hard -to -affected sectors such as accommodation, food and production, and the burden of care for children staying at home from school. However, gender employment gap has decreased slightly, the data show.
Travel and free time habits have also changed. While people travel and eat as much as they did in 2019, an increase in work from home reduced their journey to larger cities like London.
In London, the use of both pipes and buses remains about one million smaller trips a day than before the pandemic.
The aviation sector was one of those who hit the worst pandemies, and was recorded by losses in the entire industry in the amount of $ 175 billion in 2020, according to Global Airlines Body Iata.
Vaccination campaigns eventually resulted in the abolition of travel limit, allowing people to return to the plane. For 2025. Iata expects net profit in the entire industry of $ 36.6 billion and a record $ 5.2 billion passengers.
However, passengers have to fight the prices of hotel rooms that have surpassed inflation in many regions and others significantly above the 2019 level.
In the first half of 2023, Oceania, a continent on the southern hemisphere that includes Australia and smaller nations such as Tonga and Fiji, recorded the highest price in the same period in 2019, followed by North America, Latin America and Europe, according to the Lighthouse platform.
Despite the smaller fluctuations, there are few indications that the global prices of the hotel will return to the pandemic norms.
Festival rates are also record high in many countries, which is the result of more distant and flexible work. In the United States, the central business districts had the biggest increase in vacancies, which is still obvious today.
New consumer trends have developed during global locks, because consumers related to home houses often did not have another option except shopping online. This caused progress in internet purchases since 2020, which has been stabilized since then.
Analysts say that there is an increase in online sales in Europe together with an increase in sales space, as traders invest in physical stores to encourage both internet and outlook sales.
The space, measured in square metals, increased by almost 1% from 2022 to 2023, which would increase to 2.7% by 2028, shows the data of the EuroMonitor data.
Stocks in digital and delivery companies have led to gains during the pandemic, along with those pharmaceutical companies for the production of vaccines.
Five years later, some pandemic winners lost most of their attraction, but others enjoyed a permanent profit that new markets were opened that made a digital shift.
Despite the shooting of some bubbles and the collapse of the KRIPTO Exchange FTX, which is why the industry was soaked, Bitcoin’s value increased by 1,233% of December 2019, as people were looking at new investment opportunities to reduce the risk of market instability.
Stuck at home is more money in their hand, people also started investing more, and about 27% of the total trading in US owner’s capital came from an investor in December 2020. Stockbroker TD American took most of the cake before Charles Schwab bought it in an agreement of $ 26 billion.
Another platform that gained popularity during retail trade flourishing 2021 was Robinhood, which became a platform for people to pump the money in meme supplies.
(Reporting Canan Sevgili, Paolo Laudani, Alberto Chiumerto and Alessandro Paroda in Gdanska; additional reporting Marc Jones in London; Mounting Christina Fincher and Catherine Evans)
