The global pandemic that has hit the world since early 2020 has had a deep impact on economic and social aspects in almost every country. First of all, the economic sector is one of the hardest hit. Governments around the world imposed measures limiting social contact to curb the spread of the virus, resulting in business closures, reduced production and disruption of global supply chains. In many cases, small and medium-sized companies are unable to survive, which leads to high unemployment rates. According to a report by the International Labor Organization (ILO), more than 400 million jobs were lost in 2020 due to the pandemic. The tourism and hospitality sectors are the most affected, with major tourist destinations experiencing a drastic decline in visits. Countries dependent on tourism, such as Thailand and Spain, suffer heavy economic losses. On the other hand, several sectors, such as technology and e-commerce, are experiencing rapid growth. New opportunities are emerging in telecommunications and digitalization, driving economic transformation. From a social perspective, the pandemic has brought about many changes in people’s behavior. Social distancing is driving increased use of communications technology, resulting in sweeping changes in the way we work and interact. Education is also shifting to online platforms, posing new challenges for students who do not have good internet access. This digital inequality creates a larger educational gap between students from different economic backgrounds. The psychological impact is no less significant. Social isolation, economic uncertainty, and anxiety about health are increasing mental health problems worldwide. According to the survey, rates of depression and anxiety are soaring, triggering an urgent need for psychological support. Apart from that, social injustice is increasingly visible. Vulnerable groups such as women, informal workers and minority communities experience more severe impacts. In terms of access to healthcare, inequality has become increasingly apparent, with some poorer countries facing difficulties in obtaining adequate COVID-19 vaccines, while richer countries have had quicker access. The government’s ability to respond to this crisis also varies. Several countries have succeeded in implementing stimulus packages that can ease the burden on society and business. Among these is the distribution of social assistance and soft credit for MSMEs. However, in countries with less stable government systems, responses to pandemics are often slow and less effective. Overall, the impact of this global pandemic is reshaping the world’s economic and social structures. Digital transformation and technological innovation are the keys to overcoming new challenges. The combination of creativity and collaboration between countries will be important so that society can recover and adapt to the new reality. An inclusive and sustainable recovery is urgently needed to ensure that all levels of society, especially the most vulnerable, have the opportunity to emerge from this crisis.