THE IMPACT OF COVID-19 PANDEMIC ON THE CONSTRUCTION INDUSTRY IN CZECHIA AND EUROPE; CURRENT STRUGGLES AND FUTURE PREDICTIONS
This paper talks about the the COVID-19 pandemic in Europe and the impact it had on the construction industry between the years 2020 and 2023. We look at the pre-pandemic situation of the construction industry in both Europe and specifically in Czechia, followed by taking a look at the start of the pandemic and the effect it had on the industry, ranging from government restrictions and the economical impact of changing supply and demand, to changes in the strategy of different construction companies and future predictions. The paper is split into 3 parts. The first part discusses the situation in Czechia in several steps and how things changed for local construction companies (but also other industries this affected). Second part of the paper describes the situation in Europe in the same manner. Third and final portion of the paper discusses the current situation and future predictions for the developement of the construction industry in Europe while also reflecting on current struggles, and comparing them to older predictions.
Keywords: construction, economy, pandemic, COVID-19, Europe, Czechia