Issues – 2020, v7, s1, 5


The Journal of Corporate Governance,  Insurance, and Risk Management 2020, Volume 7, Series 1 

The Impact of COVID-19 on Malta and it’s Economy and Sustainable Strategies**

 Grima, Simona, Dalli Gonzi, Rebeccab, Thalassinos, Eleftheriosc

aDepartment if Insurance, Faculty of Economics Management and Accountancy, University of Malta, Msida, Malta bDepartment of Construction and Property Management, University of Malta, Msida, Malta.  cUniversity of Piraeus, Greece and University of Malta, Msida, Malta

DOI: https://doi.org/10.51410/jcgirm.7.1.5

Editors: Ercan Ozen and Darko Tipuric

Article Type: Research Paper

A B S T R A C T

A R T I C L E   I N F O

The preparedness for outbreaks of pandemics such as the COVID-19 is a major concern for health authorities and leaders as extensive studies in the past have been reported and well documented. However, engaging with the response to an outbreak demands many decisions with enormous implications on a population and its regions. A review of past response mechanisms sheds light on different scenarios to provide an understanding of the challenges that will emerge, depicting trends, changes to GDP and the impact on the economy and employment. With this article, we aim to identify and bring to light the challenges faced by Malta during the pandemic we are currently facing – COVID. This will help risk managers and leaders understand the devastating social and economic impact of such disruptions and act proactively to avoid repetition and embarrassments of being unprepared. Moreover, we aim to provide an understanding of the expected cascading economic domino effects, which may result from the workforce unavailability, during a pandemic and the mistakes in the estimation, if any, that could have been avoided. A desk research study technique was adopted whereby data was collected from existing sources, including government websites, online statistics, published reports, trends and internal data to the local Maltese markets. The COVID-19 phenomena led to new measures being taken worldwide as professionals, leaders, academics and businesses took unprecedented steps to change their business as usual strategies. This in turn brought about various questions and discussions on how islands like Malta controlled their situation.

 

Keywords: Risk Management; Economy; Malta; Sustainable Strategies; Pandemic; COVID-19-19.

*Corresponding author:Simon.grima@um.edu.mt

Article history: Received  3 07 2020 Revised   10 07 2020 Accepted 11 07 2020

**This article is also available on the SSRN Library posted on the 7th July 2020.

Cite Article (APA): Grima, S., Dalli Gonzi, R., Thalassinos, E. 2020. The Impact of COVID-19 on Malta and its Economy and Sustainable Strategies. The Journal of Corporate Governance, Insurance, and Risk Management (JCGIRM). 2020, Volume 7, Series 1. pp53-73

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