The Economic Impacts of COVID-19 Pandemic on the U.S. Industries

DOI

10.2991/assehr.k.211209.411How to use a DOI?

Keywords

COVID-19 pandemic; U.S. Economy; E-commerce market; Pharmaceutical sector

Abstract

Since the first U.S. case was reported on January 21, 2020, many American industries have been heavily affected from an economic perspective. This paper primarily gives a literature review on the negative impact of the COVID-19 pandemic on US industries with the help of historical data. To be more specific, this paper detailedly analyzes two industries (Airlines and Hospitality) that suffer from the COVID-19 pandemic to a greater extent compared with other industries. How government reacts to cope with the recession of these industries is also concluded. However, as the COVID-19 pandemic affects diverse industries in various ways, this paper tends to prove that some industries are actually boosted by the global health crisis by giving evidence from the e-commerce industry and pharmaceutical industry. The result indicates that the COVID-19 pandemic affects US markets in a dissatisfactory but creative way. In short, impacts are mostly negative but positive impacts do occur.

Copyright

© 2021 The Authors. Published by Atlantis Press International B.V.

Open Access

This is an open access article under the CC BY-NC license.

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TY  - CONF
AU  - Qingzhi Li
AU  - Siqi Jia
AU  - Yitong Chen
AU  - Feier Yang
PY  - 2021
DA  - 2021/12/15
TI  - The Economic Impacts of COVID-19 Pandemic on the U.S. Industries
BT  - Proceedings of the 2021 3rd International Conference on Economic Management and Cultural Industry (ICEMCI 2021)
PB  - Atlantis Press
SP  - 2529
EP  - 2533
SN  - 2352-5428
UR  - https://doi.org/10.2991/assehr.k.211209.411
DO  - 10.2991/assehr.k.211209.411
ID  - Li2021
ER  -