The next human pandemic could set us back $13.6 trillion

Is the next pandemic imminent? Commercial insurance market Lloyd’s of London recently predicted that the future human pandemic is likely to cause economic losses of $13.6 trillion for the global economy in a 5-year period.

The analysis by Lloyd’s and the Cambridge Centre for Risk Studies noted that the most serious scenario is likely to trigger losses of $41.7 trillion, amounting to a reduction in global Gross Domestic Product (GDP) of 1.1% to 6.4%.

COVID pandemic caused major global economic losses

The impact is going to be mainly from disruption across global industries due to restrictions. But the analysis also predicted that the least serious scenario erupting from the next pandemic could set us back $7.3 trillion.

The COVID pandemic resulted in a huge global disruption. Its impact continues to be felt in inflationary pressures, reported Reuters. Lloyd’s did not offer an estimate for the cost of the pandemic in the report.

Also Read | Has Tokyo found a solution for its declining fertility rates?

About S panda

I hold a deep interest in politics, human rights and climate change. I let empathy take the front seat, preparing breaking pieces that spark discussions or prick one's curiosity. I'm all for reporting the important in the right manner.
My journalism journey started during my college years as a Civil Engineering student. I became fond of art, shifting to my current career. I'm pursuing Masters in Journalism and Mass Communication, and aiming to bring a bigger change through my reports.

S panda

I hold a deep interest in politics, human rights and climate change. I let empathy take the front seat, preparing breaking pieces that spark discussions or prick one's curiosity. I'm all for reporting the important in the right manner. My journalism journey started during my college years as a Civil Engineering student. I became fond of art, shifting to my current career. I'm pursuing Masters in Journalism and Mass Communication, and aiming to bring a bigger change through my reports.

Recent Posts

VA Extends Research Grants by 90 Days Over Trump Administration Cuts

The Department of Veterans Affairs extended research assistance for 90 days to temporary researchers whose medical studies suffered from government…

March 17, 2025

Meta Employee Fired Just Before Bonus Payout for reason here why

Meta employee states he was sacked just a day before receiving performance bonuses for sharing a public company update with…

March 17, 2025

Trump’s Administration Continues Deportations of Venezuelan Migrants Against Court Order

This is an action by the administration of the new President Donald Trump whereby it deported over 250 Venezuelan migrants…

March 17, 2025

Citigroup Cuts IT Contractor Workforce by 30% in Strategic Shift

Citigroup plans to cut 30% of its IT contract workers to improve internal security and business performance. The company currently…

March 17, 2025

India, ILO Discuss Fair Wages, Gig Workers’ Welfare in Geneva

India joined talks at International Labour Organisation offices in Geneva to explore worker rights such as proper compensation and basic…

March 15, 2025

Court Rules Against Trump-Era Firings: Tens of Thousands of Workers to Be Reinstated

In a significant legal blow against the Trump administration, federal court judges in California and Maryland have commended the reinstatement…

March 15, 2025

This website uses cookies.

Read More