2021 International Conference on Computational Intelligence and Knowledge Economy (ICCIKE)

March 17–18, 2021, Amity University Dubai, UAE

Analysis and Impact of COVID-19 on Economy

2021 International Conference on Computational Intelligence and Knowledge Economy (ICCIKE) | 978-1-6654-2921-4/20/$31.00 ©2021 IEEE | DOI: 10.1109/ICCIKE51210.2021.9410734

and Organization
Saher Nabi1 and Ved P Mishra2
1snabi@amityuniversity.ae

2mishra.ved@gmail.com

Amity University Dubai, UAE

Abstract: COVID-19 has shown us the new dimension of the world organization needed the secure environment for their
where everything has changed. Due to new innovations in the digital networks.
world, organizations have tried their best not to get affected by
covid-19 in terms of productivity and reachability to their
customers. The organizations have changed their marketing
strategies and style of marketing during the pandemic and have
found the new way to reach to their customers. In this manuscript,
the impact of COVID-19 on economy of the organizations as well
world has been analyzed.

Keywords: Covid-19, healthcare, tourism, economy, GDP

I. INTRODUCTION Fig.1: Industry-wise Impact of COVID-19

Coronavirus (Covid -19) has affected the world economy as

it has had a negative impact as well as positive impact on
different kind of industries. The negative impact has been
noticed on following industries: textile, aviation, travel-
tourism, and hospitality, construction, and real state etc. The
positive impact has been noticed on digital services,
healthcare, education, telecom, and internet services etc. Due
to COVID-19 pandemic, sectors like education have been
dependent upon the online services using ICT tools. At the
same time security for internet users have also been needed,
as individuals had to use more internet services for their daily
needs as well. Online payment has also been increased during
this pandemic. While making the payment online or even
receiving the payments online from the customers ,
GCC nations noticed same ruthless development as the
remainder of the world for request in disinfection and
assurance things with fast deficiencies influencing a few
nations including the GCC (sanitizers, gloves and facemasks
being on first spot on the list). Uneasiness and stress being
brought about by lockdowns have made new necessities:
practicing at home and dealing with psychological wellness.
Through a few Apps and ICT tools, clients have had the
option to unwind and deal with themselves truly as well as
intellectually. To keep away from pointless clinical visits,
patients have been urged to utilize online wellbeing
administrations for diagnostics and clinical remedies. With
most representatives telecommuting, organizations needed to
put resources into far off programming's and video

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 2021 International Conference on Computational Intelligence and Knowledge Economy (ICCIKE)
March 17–18, 2021, Amity University Dubai, UAE

conferencing so they can continue to work proficiently. countries who were majorly dependent upon the tourism
Secure workstations, predominant wifi, cellular plans etc sectors are facing major economics problems due to declining
have helped to the organization during this pandemic to reach of GDP. The most affected GDP’s countries by decline in
to their customers effectively. Lockdowns have given the tourism is mentioned in Figure 2.
new burning-throughs to individuals that there is no
requirement to take off and still same amount of work could %age GDP Lost
be done from home through secure ICT tools. Also, business 50
45 43.1
organization and customers have understood that 40 38 37.8
35 33.6 31.1
merchandise could also be done via these applications and 30 28.5 26.8 26.3
25 26
20 20.6
tools with same effectiveness. As a result, web-based 15
10
shopping is encountering an extraordinary development (for 5
0
example Amazon) and dinner prep organizations and nearby

conveyance Apps follow something similar path (e.g. Fig2. Top-10 affected country GDP’s by decline in tourism (Source:
Talabat, UberEats, Instashop). OFFICIAL ESTA).

In this manuscript, impact of COVID-19 on

Many specialists see a bounce-back of the travel industry
Tourism-hospitality and healthcare sectors of the countries
worldwide in 2021, specifically after the second quarter i.e.
have been analyzed.
from the last quarter of 2021, while around 20% anticipate
II. ANALYSIS OF TOURISM SECTOR that it should happen just in 2022.
Tourism dependent countries’ economies have
unsurprisingly, had a massive impact due to the pandemic
from cancelled holidays and business trips to closed borders.
This has affected the world economy. The global GDP has
gone down and have majorly affected on millions of jobs.
Tourist arrivals has dropped globally, due to the national
lockdowns, travel restrictions, slow virus containment and
low traveler confidence. As per the UNWTO, the
international tourism could have returned to levels of 30 years
ago [1].

MICE industry (meetings, incentives, conferences and

events) has an immense impact on the economic
diversification around the world. Due to the impact of
COVID on MICE industry, it has also reduced demand for
Fig 3. Impact of COVID-19 on tourism and the expected time of
travel, hotel reservations and tourism related business. The recovery[1]

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 2021 International Conference on Computational Intelligence and Knowledge Economy (ICCIKE)
A. Reason of Impact on Global Tourism
Specialists consider travel limitations as the fundamental
hindrance burdening the recuperation of worldwide the travel
industry, alongside sluggish infection regulation and low
shopper certainty. UNWTO directed a worldwide overview
among its UNWTO Panel of Tourism Experts on the effect
of COVID-19 on the travel industry and the normal season of
recuperation.
B. Strategies to Recover from the current situation
• The paramount importance must be given to the
safety and well-being of people. Governments are
gradually starting to promote local tourism.
• Governments have revived its fiscal and monetary
policies along with retaining and
employment.
Fig 4. Factors Weighing on the Recovery (Source: Data as collected by
UNWTO, January 2021. Published: 26/01/2021)
• To ensure prevention of bankruptcy and liquidity
shortage, governments are dispensing financial
support to SME’s and self-employed workers.
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March 17–18, 2021, Amity University Dubai, UAE
• UNWTO has introduced an online instrument panel
on international policy reaction towards Covid -19
covering 220 countries [2].
• MICE now being conducted online through various
tools like teams, zoom, skype, and has benefited the
companies as it is saves time and is considered cost
effective.
III. Analysis of Healthcare Sector
Coronavirus pandemic is testing the medical services
frameworks worldwide, the establishments of India's medical
services framework have normally likewise been shaken. The
general reaction to the pandemic saw both the private and
government sectors are working in full swing but in a
pressure situation. The private Indian medical care players
adapted to the situation and have been offering all the help
securing
that the public authority needs, like testing, detachment beds
for therapy, clinical staff and hardware at government
COVID-19 emergency clinics and home medical care. India's
private medical care area has contributed fundamentally and
represents around 60% of inpatient care [1][3].
A. Investment in India’s healthcare sector
• Medical infrastructure in Tier II and III cities
• Health insurance awareness
• Government policies
• Use of technology
• Medical tourism: The Indian healthcare is very
much popular for the foreign patients due to good
quality of services provided as well as due to the
specialist doctors available in India, with lower
costs in comparison to western countries. Till 2012,
22% peoples came as a tourist i.e. as a foreign tourist
arrivals as highest with Maldives, Afghanistan as
well as Iraq is having 17% , 9% and 8%
respectively [3].
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 2021 International Conference on Computational Intelligence and Knowledge Economy (ICCIKE)
March 17–18, 2021, Amity University Dubai, UAE

UAE is also having focus on medical tourism.
• 5.5 % increase is being recorded in medical tourism
and have been reached to Dh12.1 billion in 2018.
• Sports medicine, fertility, dentistry, dermatology
treatments etc are among top in medical tourism in
Dubai.
• The target if to reach 500,000 medical tourists by
2020 [4].
B. Growth in Healthcare and COVID-19
Driven by better medical services mindfulness, ascend in
wages, expanded admittance to protection and way of life
related illnesses, India's medical services market is required
to arrive at USD372 billion by 2022[4].
toward AI-empowered medical care delivery[5-
10].Navigating the react, recuperate, and flourish stages is
testing, yet it additionally presents huge freedom: Leaders in
the wellbeing area who make the most of the chances in the
midst of the progressing COVID-19 emergency will probably
arise tough, with better than ever techniques, innovations,
arrangements, and associations serving them well in the
advancement of the administration of general wellbeing and
prosperity.

• By 2025, the government of India is focusing now

on healthcare sector and increased the spending on
health care i.e 2.5% of their GDP[5].
• Due to COVID-19 pandemic, healthcare systems
shall be changed in faster way in both public as well
as private healthcare sectors.
• Telemedicine and telemedicine services will be
more focused and gov is also issuing new guidelines Fig 5: Various Apps are being using recent technology [11]
to make it legal in India. The Ministry of Health and
Family Welfare (MoH&FW), along with NITI
D. Core values for the development
Aayog has rolled out the new guidelines that will
allow registered medical practitioners (RMPs) to Strong pioneers are acting at this point. With more

provide healthcare services using telemedicine. questionable occasions ahead, wellbeing biological system
individuals and residents the same should rise out of this
C. Technology Impact and COVID-19
pandemic more grounded than at any other time. Exploring
Likewise, with each part of our lives today, the medical care
the react, recuperate, and flourish cycle is an iterative
area is additionally profiting by innovation. For example,
interaction, and achievement can be accomplished by
mHealth advances influence cell phones to have a
remembering the accompanying five standards:
considerable effect in giving consideration admittance to
different underserved districts of Africa. A few GCC nations • Explore conceivable fates. Consider the assortment
of situations that could happen in every one of the
as of now have an advanced change system for medical care,
three stages and plan to adjust as needs be.
while the UAE and KSA have effectively an AI methodology
set up for medical care. As opposed to American and Investigate apparatuses in situation and versatility

European populaces, 67% of patients in the GCC incline arranging, pattern examination, recreation

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 2021 International Conference on Computational Intelligence and Knowledge Economy (ICCIKE)
demonstrating, and detecting and skyline checking
to gain from an earlier time and encourage
information driven dynamic, while regarding the
environment's advancing protection, security, and
moral structures.
• Develop a resident focused methodology that
addresses the issues of the biological system.
• Establish your motivation and characterize your
way.
• Move rapidly, reclassify, and utilize the force of the
environment to assist you with doing. Working
cooperatively won't just assist you with speeding up
current field-tested strategies, however,
likewise assist you with developing your association
toward another period of medical services, one that
is centered around interconnectedness, another
information environment, resident strengthening,
and generally prosperity.
• Own the account. Be adaptable. Always remember
to overhaul business methodologies
circumstance advances. Be interested
confronting vulnerability and investigating new
advancements, apparatuses, and resources. Think
basically when utilizing them to
unpredictability and seek after improvement
openings. With contact following, wellbeing hazard
evaluations, and Plexiglas getting standard, remain
resident-driven in your choices (while regarding
protection and moral contemplations) to set up trust
and commitment as the stages work through.
IV. CONCLUSION
The COVID-19 has impacted the world on every aspect. For
some sectors, it has impacted in positive way, at the same
time for some sectors it has been given very negative impact
on economies. COVID-19 has also given the way to think the
world with different perspective i.e. called new normal. In
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March 17–18, 2021, Amity University Dubai, UAE
this manuscript, the impact on two main sectors have been
analyzed i.e. healthcare sector and tourism and hospitality
sector and it’s found that healthcare organizations have
chance to grow during the COVID-19 in many ways as
demand was increased suddenly. At the same time, the
countries which were dependent on travel, tourism and
hospitality, their economy has gone down drastically.
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