The Economic Impact of COVID-19 on Construction Industry: Oman’s Case

Abstract

With the sudden onset of the COVID-19 pandemic in 2020, global economies have been severely disrupted. The decline of the aviation industry and the fall in global demand for goods and services have proved to be fatal for many countries already struggling with economic issues before the pandemic. In particular, for the Omani economy, falling oil prices and supply chain disruptions have dealt a severe blow to the construction industry. Not only the construction industry has seen a fall in financial support and funding, many players in the industry have also sustained the hit that further increases the financial burden of Oman's construction industry. In this article, the economic impacts of the COVID-19 pandemic on Oman's construction industry are analyzed using an inductive reasoning approach. Data are gathered from primary and secondary sources. Although the pandemic consequences are cruel, it is an opportunity to improve paradigms to absorb such events in the future.