Impact of the coronavirus pandemic on the tertiary sector

Abstract: The tertiary sector, also referred to as the services sector, is the most affected sector during the coronavirus crisis. The aim of this paper is to analyze and describe the economic and existential impacts of COVID-19 on this sector worldwide, caused by government interventions and government regulations. To achieve this goal, a self-administered questionnaire survey dealing with companies in the Czech Republic is produced and an existing questionnaire survey by Alonso et al. (2020) dealing with companies in the world is analyzed. Both questionnaires deal with the impact of the COVID-19 pandemic on companies operating in the hospitality sector, the biggest concerns of these companies and their coping with this situation. Companies are most concerned about the financial impact on their business and the uncertainty of what will happen next and how long the pandemic will last. Companies both in the Czech Republic and around the world are dealing with the pandemic in a similar way – by laying off their employees, moving them to other positions or working from home, suspending their activities and waiting for further government action or terminating business activities altogether.