The radical social, political, and economic changes caused by the COVID-19 pandemic are clearly reflected in language use through the appearance of numerous neologisms, most of which can be considered borrowings from English. In this article, we take a contrastive linguistic approach and focus on the emergence of new lexemes in the press language of four Romance languages (European Spanish, Brazilian Portuguese, Italian and European French) with a special focus on language contact. Since no press corpora were available with specific data on the COVID-19 pandemic, we created our own corpora for the entire year 2020 using Python in order to compare how lexical innovation is dealt with in the four languages. Our results show that conceptual innovation, especially when it occurs abruptly, can lead to equivalent, often phonotactically adapted neologisms in the case of neighbouring languages. However, the integration of foreign words and the formation of neologisms also show language-specific peculiarities which are not only related to structural characteristics of the respective languages, but also to sociolinguistic and sociocultural factors. Our study elaborates on the relationship between these factors and shows the potential of contrastive and computational approaches for the study of lexical repercussions of language contact.