The impact of COVID-19 pandemic on business continuity in Serbia: A sectoral analysis

Aleksandra Pavlović; Andrea Ivanišević; Katarina Stojanović

doi:10.71159/icemit2527P

Authors

Aleksandra Pavlović The Academy of Applied Studies Polytechnic, Belgrade, Serbia
Andrea Ivanišević University of Novi Sad, Faculty of Technical Sciences, Novi Sad, Serbia
Katarina Stojanović Faculty of Contemporary Arst, Belgrade; University Business Academy, Faculty of Economics and Engineering Management, Novi Sad, Serbia

DOI:

https://doi.org/10.71159/icemit2527P

Keywords:

pandemic, business continuity, resilience, revenue, multivariate linear regression

Abstract

This paper focuses on the impact of COVID-19 pandemic on the business continuity of economic sectors in Serbia. The analysis was based on the secondary data from the Statistical Office of the Republic of Serbia, with particular focus given to the year-on-year changes in business revenues over the periods from 2010 to 2023, and 2019 to 2020. A simplified multivariate linear regression model was used to examine the influence of sectoral affiliation and enterprise size on the decline in revenues. The obtained results indicate significant differences across sectors, with the tourism, hospitality, and transport sectors being hit the hardest by the pandemic, while the information technology and finance sectors demonstrated greater resilience. The findings have also revealed that the level of vulnerability of sectors to systemic crises varies, which is why the targeted support measures are necessary. This study contributes to a more comprehensive understanding of the economic consequences of the pandemics in transition economies and provides a solid basis for improving crisis response strategies in the future.

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