Infectious disease outbreaks can be a tragic and costly threat to national and global health. They can stifle economic development and impair the resilience of communities. As a result, countries need to strengthen their health systems and invest in pandemic preparedness.
The impact of epidemics varies widely across countries, depending on the characteristics of the disease, the population’s socio-economic status, and their geographical location. However, the main costs of epidemics remain unchanged, and their impact on the economy is significant.
Despite a substantial decline in the global incidence of infectious diseases in the past decade, the number of cases is still staggering. Antimicrobial resistance is one of the world’s top ten health threats. It is caused by overuse of existing drugs, which result in drug-resistant strains.
A recent study published in the Journal of Economic Literature investigated the economic impact of infectious diseases. The authors sought to understand the tradeoffs involved in combating modern infectious disease.
One key to mitigating the effects of epidemics is early targeted policy interventions. This can include investments in early-detection systems and enhanced surveillance. Another important strategy is to improve hygiene. Lack of clean water and sanitation encourages the spread of microbes.
Despite the positive impacts of increased vaccination and improved sanitation, a large proportion of the world’s population remains at risk of malaria. Malaria imposes a huge economic cost on households and continues to take a heavy toll on health care systems in many endemic countries.
