Variations in the financial impact of the COVID-19 pandemic across 5 continents: A cross-sectional, individual level analysis

Abstract

Background COVID-19 has caused profound socio-economic changes worldwide. However, internationally comparative data regarding the financial impact on individuals is sparse. Therefore, we conducted a survey of the financial impact of the pandemic on individuals, using an international cohort that has been well-characterized prior to the pandemic.Methods Between August 2020 and September 2021, we surveyed 24,506 community-dwelling participants from the Prospective Urban-Rural Epidemiology (PURE) study across high (HIC), upper middle (UMIC)-and lower middle (LMIC)-income countries. We collected information regarding the impact of the pandemic on their self-reported personal finances and sources of income.Findings Overall, 32.4% of participants had suffered an adverse financial impact, defined as job loss, inability to meet financial obligations or essential needs, or using savings to meet financial obligations. 8.4% of participants had lost a job (temporarily or permanently); 14.6% of participants were unable to meet financial obligations or essential needs at the time of the survey and 16.3% were using their savings to meet financial obligations. Participants

Changes in household food security, access to health services and income in northern Lao PDR during the COVID-19 pandemic: a cross-sectional survey

“…In that study, the proportion of households classified as moderately or severely food insecure rose from 5.6% and 2.7%, respectively, to 36.5% and 15.3% 39. While global surveys indicate loss of income across all counties, the proportion of participants financially impacted by the pandemic is estimated to be three times higher in LMICs than in high income countries 40. Longitudinal survey data from Ethiopia, Malawi, Nigeria and Uganda find that 77% of the population live in households that have lost income during the pandemic 9.…”

“…Economic disruptions, such as business closures and declines in tourism, have reduced country-specific gross national incomes in most LMICs 7. The World Bank estimates that the pandemic pushed an additional 119 to 124 million people into extreme poverty in 2020,8 and surveys across multiple LMICs reveal losses in income among the majority of households 8–12. An estimated 118 to 161 million more individuals faced hunger in 2020 as compared with in 2019 7.…”

Were we happy and we didn’t know it? A subjective dynamic and financial assessment pre-, during and post-COVID-19

“…: volatility in [ 2 , 5 , 22 ], business companies [ 3 , 45 ], [ 48 ]) or at a microeconomic level [ 16 , 59 , 68 ]. There are findings showing that low-income individuals tend to be more impacted by pandemic (see [ 72 ], and also [ 38 , 41 ], highest wealth were least likely to be financially impacted [ 41 ], or women are 24% more likely to permanently lose their jobs in the COVID-19 context [ 16 ]. Indeed, gender inequalities would worsen during any type of crisis according to Fisher & Ryan [ 24 ], being spread across various domains, such as health and well-being or work and poverty.…”

Impact of Covid-19 on the global orthopaedic research output

“…The pandemic caused by the Sars-Cov-2 virus, which began in 2020, led to unprecedented changes in the globalized world (1,2). In order to at least slow the spread of the virus and thus take pressure off the medical sector, the affected countries responded with varying degrees of lockdown and social distancing (3).…”