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Economic Consequences of Coronavirus Disease (COVID-19) on Fisheries in the Eastern Mediterranean (Cyprus)

Author

Listed:
  • Elias Giannakis

    (The Cyprus Institute, Energy Environment and Water Research Center, 20 Konstantinou Kavafi Street, Nicosia 2121, Cyprus)

  • Louis Hadjioannou

    (Enalia Physis Environmental Research Centre (ENALIA), Acropoleos 2, Aglantzia 2101, P.O. Box 26728, Nicosia 1647, Cyprus)

  • Carlos Jimenez

    (The Cyprus Institute, Energy Environment and Water Research Center, 20 Konstantinou Kavafi Street, Nicosia 2121, Cyprus
    Enalia Physis Environmental Research Centre (ENALIA), Acropoleos 2, Aglantzia 2101, P.O. Box 26728, Nicosia 1647, Cyprus)

  • Marios Papageorgiou

    (Enalia Physis Environmental Research Centre (ENALIA), Acropoleos 2, Aglantzia 2101, P.O. Box 26728, Nicosia 1647, Cyprus)

  • Anastasis Karonias

    (Enalia Physis Environmental Research Centre (ENALIA), Acropoleos 2, Aglantzia 2101, P.O. Box 26728, Nicosia 1647, Cyprus)

  • Antonis Petrou

    (Enalia Physis Environmental Research Centre (ENALIA), Acropoleos 2, Aglantzia 2101, P.O. Box 26728, Nicosia 1647, Cyprus)

Abstract

Fisheries are among the sectors hardest-hit by the coronavirus pandemic (COVID-19) crisis due to the sudden decrease in the demand for seafood. This study employs demand-driven and supply-driven input-output models to conduct an economy-wide assessment of the contraction of the fisheries activities in Cyprus, as well as a questionnaire survey to reveal fishermen’s perceptions of COVID-19 crisis impacts. The results at the macroeconomic level reveal that the contraction in the economic output of the fisheries sector does not have any significant impact on the wider economy due to the small size of the sector. However, the COVID-19 crisis has major negative effects on fishermen’s income and the livelihoods of fishers’ households. The average gross margin of the interviewed fishermen for March 2020, i.e., the month where a national quarantine and lockdown was imposed, was four times less the average monthly gross margin for the winter period (December 2019–February 2020) and 2.5 times less compared to the average monthly gross margin of 2019. The recessionary impacts of the COVID-19 crisis in conjunction with the chronic challenges that fisheries are currently facing in Cyprus, negatively affect the viability of the sector.

Suggested Citation

  • Elias Giannakis & Louis Hadjioannou & Carlos Jimenez & Marios Papageorgiou & Anastasis Karonias & Antonis Petrou, 2020. "Economic Consequences of Coronavirus Disease (COVID-19) on Fisheries in the Eastern Mediterranean (Cyprus)," Sustainability, MDPI, vol. 12(22), pages 1-11, November.
    • Handle: RePEc:gam:jsusta:v:12:y:2020:i:22:p:9406-:d:443689
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    References listed on IDEAS

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    Cited by:

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    2. G. M. Monirul Alam & Md Nazirul Islam Sarker & Marcel Gatto & Humnath Bhandari & Diego Naziri, 2022. "Impacts of COVID-19 on the Fisheries and Aquaculture Sector in Developing Countries and Ways Forward," Sustainability, MDPI, vol. 14(3), pages 1-13, January.
    3. Bonfiglio, Andrea & Coderoni, Silvia & Esposti, Roberto, 2022. "Policy responses to COVID-19 pandemic waves: Cross-region and cross-sector economic impact," Journal of Policy Modeling, Elsevier, vol. 44(2), pages 252-279.
    4. Yuki Arai & Maneewan Sanlee & Misato Uehara & Shimpei Iwasaki, 2022. "Perceived Impact of COVID-19 on Small-Scale Fishers of Trang Province, Thailand and Their Coping Strategies," Sustainability, MDPI, vol. 14(5), pages 1-16, March.
    5. Nana Liu & Zeshui Xu & Marinko Skare, 2021. "The research on COVID-19 and economy from 2019 to 2020: analysis from the perspective of bibliometrics," Oeconomia Copernicana, Institute of Economic Research, vol. 12(2), pages 217-268, June.
    6. Yicheol Han & Stephan J. Goetz & Claudia Schmidt, 2021. "Visualizing Spatial Economic Supply Chains to Enhance Sustainability and Resilience," Sustainability, MDPI, vol. 13(3), pages 1-15, February.

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