Windfall profits and losses caused by the COVID-19 pandemic

  • Irena Brukwicka Bronisław Markiewicz State Higher School of Technology and Economics in Jarosław
  • Iwona Dudzik Bronisław Markiewicz State Higher School of Technology and Economics in Jarosław
Keywords: crisis, pandemic, collapse, economy, industry, COVID-19 pandemic

Abstract

The outbreak of COVID-19 pandemic is a great economic shock, both for the European countries and for the entire world. The subject of the study is the unexpected profits or losses connected with the coronavirus pandemic. The authors of the article focus on the areas affected by losses and the areas, which achieved windfall profits during the discussed period. The purpose of this article is to analyze and evaluate the profits and losses resulting from the ongoing SARS-CoV-2 pandemic. The world economy has been struggling with epidemic phenomena, varying in intensity and extent, since at least the Roman Empire. This is also the case when the global economy is affected by the pandemic. The business environment has radically evolved. The pandemic contributed to losses in many areas, the most influenced fields are the following: aviation, hospitality and tourism. Profits, on the other hand, relate to the Zoom company, which enables and facilitates videoconferencing, it is so important in the case of remote work. Online shops, such as Amazon, have also recorded an increase, especially during the closure of brick and mortar shops. Stock market increases were also observed among companies supplying food and food products. It should be emphasized, however, that the financial situation of individual companies also depends on the principals and permanent contracts.

Author Biographies

Irena Brukwicka, Bronisław Markiewicz State Higher School of Technology and Economics in Jarosław

PhD, adjunct, The Bronisław Markiewicz State Higher School of Technology and Economics in Jarosław

Iwona Dudzik, Bronisław Markiewicz State Higher School of Technology and Economics in Jarosław

PhD, adjunct, The Bronisław Markiewicz State Higher School of Technology and Economics in Jarosław

References

Ambroziak Ł., Chojna J., Gniadek J., Kępka H., Strzelecki J., Trade routes after a pandemic COVID-19, Polish Economic Institute Publishing House, Warsaw 2020, p. 4.

Antonowicz M., Intermodal transport in times of pandemics sars-cov-2. First special report of the portal INTERMODALNEWS.PL, Publisher IntermodalNews.pl, Wroclaw 2020, p. 6.

Bentyn Z., Reshoring strategy as a factor shaping global supply chains. Logistics, 2015, No 3, CD 1 | 313-320.

Bogacki K., Does Zoom only grow during a pandemic? Available from: https://itreseller.com.pl/czy-zoom-wylacznie-rosnie-podczas-pandemii-okazuje-sie-ze-tworcy-narzedzia-do-wideokonferencji-rejestruja-coraz-nizsza-marze/ [ Access: 23.03.2021.]

Dolot A., The impact of the COVID-19 pandemic on remote working – an employee's perspective, "E-mentor" 2020, No 1.

Tui Group will receive further support from the German government. Available from: http://ttg.com.pl/grupa-tui-otrzyma-kolejne-wsparcie-od-rzadu-niemiec/ [Access: 23.03.2021.]

Hadasik B., Macroeconomic analysis of the E-Commerce sector in the face of a covid-19 pandemic using the Pest/Pestel method. Available from: Widening Horizons – Tom XX, cz. I, p. 64-71 https://www.researchgate.net/publication/348907818 [Access: 23.03.2021.]; https://pl.grupa tuisting.com/equities/zoom-video-communications [Access: 3.03.2021.]; https://pl.investing.com/equities/zoom-video-communications [Access: 23.03.2021.]; ttps://www2.deloitte.com/pl/pl/pages/human-capital/articles/jak-zachowac-odpornosc-w-biznesie-powrot-do-normalnego-dzialania-po-pandemii.html [Access: 17.04.2021.]; Kopeć J., Makarenko V., Korzeniowska K., Who the pandemic has made money for and who is happy to hear about the vaccine. BIQDATA, Available from: https://biqdata.wyborcza.pl/ biqdata/7,159116,26609909,komu-pandemia-dala-zarobic-a-kto-sie-cieszy-na-wiesc-o-szczepionce.html [Access: 16.12.2021.]

Koralewski M., Logistics and mobility during the COVID-19 pandemic, "Expertise" 2020, No4, p. 3-4.

Łaszek A., Trzeciakowski R., Zieliński M., Poland, Stagnation or growth? Work, rule of law, investments, innovations. Report under the expert direction of L. Balcerowicz, FOR Warsaw, 2021, p. 54-56.

Pomykała A., Commodity sector during the period of dealing with the effects of Covid “TTS Rail Transport Technology” 2020, No 27, p. 16-19.

Rutkowski E., COVID-19: how to survive a crisis? Fundamentals of strategic management in a company during a crisis, Available from: https://www.parp.gov.pl/component/content/article/59299:covid-19-jak-przetrwac-kryzys-podstawy-zarzadzania-strategicznego-w-przedsiebiorstwie-w-czasie-kryzysu [Access: 25.03.2021.]

Serwis finansowy, Available from: http://www.stooq.pl [Access: 24.03.2021.]

Sieroń A., Will the covid-19 pandemic cause the global economy to collapse. University Review on-line. University of Wrocław [Access: 22.06.2021.]

Solarz J. K., Waliszewski K., Pandemic or generational war? Finance and financial law. Journal of Finance and Financial Law June 2020, vol. 2(26), p. 105.

Impact of the SARS-Cov-2 coronavirus pandemic on the 2019 audit. Polish Chamber of Statutory Auditors, Warsaw 2020, p. 2.

Załęska A., What impact does coronavirus have on e-commerce. Available from: https://invette.pl/blog/wplyw-koronawirusa-na-e-commerce/ [Access: 24.03.2021.].


Abstract views: 281
PDF Downloads: 302
Published
2021-09-29
How to Cite
Brukwicka, I., & Dudzik, I. (2021). Windfall profits and losses caused by the COVID-19 pandemic. VUZF Review, 6(3), 5-12. https://doi.org/10.38188/2534-9228.21.3.01
Section
Articles