Navigating the intersection of digitalization, pandemic, and business environment. Exploring a proposed framework on the Balkans

Abstract

This article delves into the intricate interplay among digitalization, the COVID-19 pandemic, and the business environment in the Balkans, presenting a robust framework to comprehend and navigate these intertwined influences. As digital transformation swiftly reshapes global business landscapes, its accelerated adoption during the pandemic has proven crucial in adapting to new economic realities. This study investigates how businesses across the Balkans have navigated these dual pressures, examining their adoption of digital technologies, shifts in consumer behavior, and the resilience of entrepreneurial ventures amidst uncertainties induced by the crisis. The research is guided by the question: What is the interplay between digitalization and the pandemic in restarting business activities? Insights include associations found between digitalization and the DiGiX 2022 index, and the correlation between restarting business and the annual real GDP growth rate in 2023. Moreover, the study explores how the COVID-19 pandemic has impacted the Harmonized Index of Consumer Prices (HICP), reflecting its broader economic effects. By synthesizing these elements, the framework aims to offer strategic guidance to businesses and policymakers navigating the evolving digital landscape and pandemic-induced challenges in the Balkans.

Keywords

• digitalization
• business environment
• digital economy
• covid-19 pandemic