Discussion on the Impact of COVID-19 on Irelands Macroeconomic Development

Abstract

This paper aims to discover how COVID-19 influences the development of the macroeconomy in Ireland, and help readers understand how Ireland, or even other countries or regions, should respond to a crisis such as COVID-19 to keep their business running effectively. Through the research, the relevant data of Ireland from 2019 to 2022 are quantitatively analyzed, including Gross Domestic Product (GDP), national income, people's employment and unemployment, the number of enterprises registered, Ireland's traffic conditions such as the number of passengers, the number of hotel stays and other data, the number of airline routes, hospital expenses and medical subsidies and the number of hospital inpatients. The Irish government's policies to control the spread of the epidemic will also be discussed. After analysis, COVID-19 can negatively affect employment, transportation, tourism, and the number of enterprises. However, it can raise the capital of the hospital. Therefore, Ireland and other countries and regions need to be aware of the impact of COVID-19 on economic development. This article can show the impact of COVID-19 on the macro-economy in what aspects, and reduce the impact of disasters through appropriate fiscal policies, adequate fund preparation, and subsidies for those who lose their jobs due to disasters.