How COVID-19 Pushed 4.7 million More People in Southeast Asia into Extreme Poverty

The coronavirus disease (COVID-19) pandemic pushed 4.7 million people in Southeast Asia into extreme poverty in 2021, as 9.3 million jobs disappeared, compared with a baseline no-COVID scenario, according to a new Asian Development Bank (ADB) report presented at the Southeast Asia Development Symposium (SEADS).

The Omicron wave could cut the region’s economic growth by as much as 0.8 percentage points in 2022, says the report, Southeast Asia Rising from the Pandemic. The region’s economic output in 2022 is expected to remain more than 10% below the baseline no-COVID scenario. Among the most affected are unskilled workers and those working in retail and the informal economy, as well as small businesses without a digital presence.

“The pandemic has led to widespread unemployment, worsening inequality, and rising poverty levels, especially among women, younger workers, and the…