The Impacts of the Pandemic Crisis on the Survival of Construction Industry in Bangladesh, Current Situation and Tenable Solutions: A Case of Covid-19

Abstract

The global pandemic 'Covid-19' has been the biggest crisis of the generation, surpassing the global economy, disrupting the lives of general people, and creating havoc in the financial markets and business industries. The construction industry is no exception. The pandemic's impact has caused countless setbacks in this sector across the world. Many workers are forced out of their jobs, projects are being delayed, and severe supply chain issues are being experienced. With the construction activities mostly constricted due to the lockdown imposed for the significant part of the last year, this sector has faced colossal impacts. Now, as the industry looks to rebound from the critical situation, the utmost priority is to secure people's health and safety and gain back financial stability. So, the decision-makers need to find out sustainable and tenable solutions and rejig their business strategies accordingly to bring back the industry to normalcy. This study mainly aims to analyze the impacts caused by Covid-19 on the survival of the construction industry in Bangladesh. The effects have been evaluated through tasks, and the current situation has been monitored through visiting sites, gaining necessary information, learning expert views, and collecting data. Besides this, the study has also tried to find some reliable solutions in context with the present scenario of Bangladesh. It also shed light on the strategic point of view so that the project stakeholders can rejig their business contingency and continuity planning accordingly.