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.

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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.

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