EU study: economic ups and downs, before and after the pandemic.

BRUSSELS – In Europe at the beginning of the pandemic in 2020, states and local authorities have taken actions to stem the spread of the virus and mitigate the effects of the social and economic crisis triggered by the health emergency. An impact largely dependent on the different territorial and socio-economic contexts, as demonstrated by the Geography of Covid-19 study of the European cooperation program. In particular, in this period, it emerges that in all the territories analyzed (Milan, Athens, Amsterdam, Barcelona, ​​Elvas, Hannover, Helsinki, Iaşi, Malmö, La Réunion, Mayotte, Veszprém, Corsica and the Azores) there was a notable lowering of the economy. The regions heavily dependent on tourism, such as Barcelona, ​​Elvas, the Azores and Corsica, were particularly affected. More mitigated the blow suffered by regions with a more diversified economy, such as Malmö, Iasi and Veszprém. In these territories also the economic recovery seems to have been faster than in the tourist areas. A case in itself is Lombardy, which has suffered serious economic losses because the infections were among the highest in Europe. On the other hand, some sectors of the economy have registered growth. In Milan, for example, the pharmaceutical and food sectors have grown. Unemployment also increased in all study areas, but job losses were more pronounced in some regions, such as Lombardy. The decline in employment was particularly pronounced in tourism, but also in the services, culture and trade sectors. Young people and employees with fixed-term contracts are more exposed to the risk of losing their jobs. By the end of 2021, the labor market had not yet fully recovered in several analyzed territories, such as the Azores and Barcelona, ​​while in Elvas, Amsterdam and Veszprém it almost returned to pre-pandemic levels. 

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Autore:

Cusumano Vincenzo

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