The Effect of COVID-19 Pandemic on Service Sector Sustainability and Growth

Abstract

Coronavirus disease (COVID-19) is having an unprecedented and unpredictable impact on the world's economy. The pandemic has driven the world toward adapting to the current circumstances regardless of the business, sector, or industry. The coronavirus epidemic (COVID19) has affected the global economy and service sector. The purpose of the current study is to assess the effect of COVID-19 on service sector growth and sustainability. Global sectors and industries are trying to anchor themselves amidst the pandemic. The study focuses on the sectors that are badly hit by the outbreak and discussed the strategies and responses different countries are taking to sustain their economies. This study concludes that the vital role of Information Technology and digitization supports the economies in their fight against the pandemic and helps them sustain themselves amid crises. This study also contributes to the body of literature by suggesting IT-based solutions for various industries to elevate effective responsiveness and avoid significant losses.

Psychological outcomes of COVID-19 survivors at sixth months after diagnose: the role of kynurenine pathway metabolites in depression, anxiety, and stress

“…Thus, there might be many reasons for psychiatric consequences related to the COVID-19 pandemic. Several studies have found that the COVID-19 pandemic response and associated quarantine periods triggered and exacerbated a slew of personal, social, medical, political, and economic difficulties (Shrestha et al 2020 ; Xiang et al 2021 ). These changes have had an impact on both clinical and general population mental health (Brasso et al 2022 ).…”

Impact of Perceived Organizational Support on OCB in the Time of COVID-19 Pandemic in Hungary: Employee Engagement and Affective Commitment as Mediators

“…Most of the sectors in different countries were partially or completely closed because of the rapid transmission of the virus, while the service sector was the most affected. The service sector faced complete closure because of direct human contact and the rules of social distancing [7], especially tourism, health, media and entertainment, and transport industries [8]. In these sectors, employees are at more risk of contracting coronavirus because they have to interact with customers directly and come in direct or indirect contact with many customers, or they must manage items used or touched by the consumers [9].…”

Moderating Effect of Chief Executive Officer Narcissism in the Relationship Between Corporate Social Responsibility and Green Technology Innovation

“…It is widely observed that as the most fundamental and important organizational form in the contemporary economic system, firms greatly influence the economy, society, and environment. Empirical evidence largely supports the notion that on facing the external disturbance and unexpected events (Xiang et al, 2021 ), the positive engagement of firms in activities that enhance social value will suffer from a smaller magnitude of loss and would be more likely to maintain the stability following the shock (Huang et al, 2020 ). Firms that contribute both societal and environmental success and are financially viable are more likely to have a long-term survival and sustainable competitive advantage (Mellahi et al, 2016 ).…”