The Economic and Psychological Impact of COVID-19 Pandemic on Individuals: A Cross-sectional Analysis from Several Developing Countries

Abstract

OBJECTIVES To address the socioeconomic and psychological impact of COVID-19 pandemic on individuals belonging to different developing countries. METHODOLOGY A cross-sectional study was conducted from March 2020 to June 2020 in different developing countries around the world. All consenting individuals who were 18 years or older, with access to the internet were included in the study. The individuals who did not speak English language, had no computer skills, and were younger than 18 years were excluded from the study. The survey started with recording socio-demographic information followed by administration of generalized anxiety disorder questionnaire (GAD-7). The severity of anxiety levels and degree of worrying were associated with sociodemographic characteristics and financial stability of participants. A p-value of <0.05 was considered as statistically significant. RESULTS A total of 552 individuals participated in the study with a mean age of 27.10(6.44) years. It was found that 94(17%) participants were given a temporary layoff while 26(4.7%) individuals were permanently terminated from their jobs amid the pandemic. http://www.tridhascholars.org | June-2021 31 Mexico had the highest rate of temporary suspension i.e. 30.8 percent. Moderate anxiety was found among one-half of the study population and the incidence of severe anxiety was 9.4%. Female gender was more susceptible to severe anxiety (p = 0.001). 4/5 th of the individuals with severe anxiety did not have enough savings in their accounts to last more than a month (p = 0.000). CONCLUSION The current study indicates the restrictions in economic trade and movement of people has led to financial uncertainty and anxiety among the vulnerable groups. The authorities should provide regular relief funds to the daily wagers and underprivileged groups.