The Economic Impact of the COVID-19 Pandemic on the Well-being of Workers in the Informal Sector of Kathmandu Valley, Nepal

Abstract

The economic restriction of COVID-19 in several countries has significantly impacted the global economy resulting in mass unemployment and job losses. Despite the fact that the crisis has an impact on every country, developing countries are the ones who are most affected. Furthermore, informal sectors are the hardest hit sector. In Nepal, where informal workers account for the highest working group, millions of jobs are estimated to be interrupted. Financial shortages and the lack of a welfare system in this crisis have made these people's lives miserable, making it impossible for them to manage their livelihood. This is affecting their quality experiences of life which are the determinants of well-being. Lower well-being could result in an inability to cope with the struggles of life, reducing their productivity and potentiality to contribute to the development of society. Hence, this study explores the economic impact on the well-being of informal workers of Kathmandu valley in this pandemic period. The main objective of this study is to understand how informal worker perceives their well-being with the effect of economic restrictions in COVID-19.