The impact of Omicron spread on the international economy​

​​Jang Youngook

(yojang@kiep.go.kr)

Associate Research Fellow,

Korea Institute for International Economic Policy 

English Abstract

Based on the high transmissibility and low severity of the Omicron variant, nations are changing their strategies to improve the efficiency of the epidemic prevention system. Therefore, the impact of the Omicron variant on the international economy is expected to be limited. In the short run, it will be important to balance infection control and social functioning in response to the spread of Omicron. In the long run, it will be necessary to invest resources in the post-COVID-19 era. In addition, it is necessary to actively participate in international cooperation to promote balanced global vaccines and eliminate uncertainty about the emergence of new variants..​