What would be the impact on the economy and the people when a pandemic starts?
The result of a pandemic outbreak will impact on the economy to drop dramatically because of the amount of people dying and the amount of people isolated from the rest of the world. The economic loss has been due to deaths ; work absenteeism; and avoidance behaviours. So far the world economy has lost more than a trillion dollars because of the Swine Flu pandemic. "In a worst-case scenario, air travel, tourism and restaurants woould see a 20 percent drop in business." the report said.
Below are estimates of economic costs of such a disaster:
* The World Bank estimated in 2008 that a flu pandemic could cost $3 trillion and result in a nearly 5 percent drop in world gross domestic product. The World Bank has estimated that more than 70 million people could die worldwide in a severe pandemic.
* Australian independent think-tank Lowy Institute for International Policy estimated in 2006 that in the worst-case scenario, a flu pandemic could wipe $4.4 trillion off global economic output.
* The World Bank estimated in 2008 that a flu pandemic could cost $3 trillion and result in a nearly 5 percent drop in world gross domestic product. The World Bank has estimated that more than 70 million people could die worldwide in a severe pandemic.
* Australian independent think-tank Lowy Institute for International Policy estimated in 2006 that in the worst-case scenario, a flu pandemic could wipe $4.4 trillion off global economic output.
