Urban-economies

The present economic and social crisis emerge today as a bilateral and dramatic consequence of the health crisis caused by Covid-19. However, cities are still recovering from the major economic crisis of 2008, demanding even more resilience to advance towards the future.

Unlike the previous crisis, with its origin within the system itself, the current one is originated by an outside shock – the pandemic. This implies not only a demand shock, but also a major supply shock. Quarantine measures have brought disruptions to production and supply chains to the majority of businesses. On the demand side, and with the looming prospect of economic distress, consumers show lower confidence and prefer to save when possible.