SHS Web of Conf.
Volume 92, 2021The 20th International Scientific Conference Globalization and its Socio-Economic Consequences 2020
|Number of page(s)||10|
|Section||Global Impact of COVID 19 on Economy and Society|
|Published online||13 January 2021|
Social-economic effects of the COVID-19 pandemic in Lithuania
1 Mykolas Romeris University, Institute of Communication, Ateities St. 20, 08303 Vilnius, Lithuania
2 Vilnius Gediminas Technical University, Faculty of Business Management, Department of Economics Engineering, Saulėtekio ave. 11, 10223 Vilnius, Lithuania
* Corresponding author: email@example.com
Research background: COVID-19 pandemic became the global issue in today’s world. Due to the globalized world, the virus had a possibility to spread across the globe and infect people from different nations and continents. However, COVID-19 pandemic is the consequence of globalization that has tremendous social-economic outcomes around the globe. COVID-19 also induced the panic in mass media and governments adopted new policies and precautions in order to minimize the damage and spread of this virus. However, due to the government restrictions, the consumer behavior also had a drastic change and influenced the economy as a whole.
Purpose of the article: To investigate the social-economic effects of COVID-19 pandemic in Lithuania.
Methods: scientific literature analysis, statistical analysis of secondary data and comparative analysis.
Findings & Value added: People are well informed about the COVID-19 pandemics in Lithuania. Thread of COVID-19 was seen as real and Lithuanians were in panic that affected their behaviour on purchasing consumer goods and services. Lithuanian economic sectors were affected differently. However, Lithuania has a mild social-economic effects of COVID-19, were more concerned about global issues related to the virus (spreading globally and in Europe, impact on economy and etc.) and less about personal, local and national issues (closure of Lithuanian borders, closure of schools and universities, crisis in tourism and other sectors).
Key words: COVID-19 pandemic / social-economic effects / globalisation effects / panic behaviour
© The Authors, published by EDP Sciences, 2021
This is an Open Access article distributed under the terms of the Creative Commons Attribution License 4.0, which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited.
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