Effects of the COVID-19 Pandemic on Well-Being: Evidence from Latin American countries

Contributors: Paola Ochoa, Josep M. Blanch, David Coello-Montecel, Michelle Tello

The COVID-19 pandemic significantly altered people’s lives in different spheres. Sudden events and changing circumstances can alter individuals’ satisfaction with life in the short and long term (Diener et al., 2018). Previous economic crises have shown that a decline in economic activities combined with job insecurity cause cognitive and affective disturbances and poor mental health (Maraziti et al., 2021). Thus, some studies have shown that income reduction and job loss during the COVID-19 outbreak have negatively impacted psychological outcomes and subjective well-being (De Miquel et al., 2022; Godinić & Obrenovic, 2020).

Despite the growing literature on the effects of the pandemic on well-being and other psychological outcomes, the empirical evidence is not well documented in all regions and countries. Several studies related to the impact of the pandemic on well-being are mostly conducted in Asia, especially China, Europe, and North America (Kunzler et al., 2021). However, fewer studies have been carried out in regions such as Latin America. This study analyzed how the effects of the pandemic, such as income reduction and job loss, affected well-being and life satisfaction in Latin American countries, particularly in the Andean Community countries such as Bolivia, Colombia, Ecuador, and Peru.