CoronaVirus Becomes World’s Most Costliest Epidemic, at over $62 Billion, New Report Reveals
A new report compiled by LearnBonds.com has revealed that the CoronaVirus is projected to be the costliest epidemic since 2000. Data indicates that by the first quarter of 2020, the virus is expected to cost China about $62 billion, an equivalent of 2% of the country’s GDP.Already the impact on Chinese economic growth prospects has been felt since the virus has led to shutdowns across the country. Based on these calculations the impact on the global GDP might be severe.
By February 14, the European Centre for Disease Prevention and Control puts CoronaVirus deaths at 427, while infections were 20,626.
According to LearnBonds.com, CoronaVirus is projected to be the costliest epidemic when compared to other disease outbreaks including Ebola, Swine flu among others. This is despite the fact that previous diseases such as Swine Flu and Ebola had a much higher death toll.
Ebola which ravaged most parts of Africa led to a loss of $53 billion. The virus has recorded 11,323 deaths and 28,646 infections.
The Swine flu epidemic which recorded the highest number of casualties at 18,138 resulted in a loss of $50 billion.
Other epidemics with notable economic consequences include Bird flu ($40 billion), SARS ($40 billion) and MERS ($10 billion).
Generally, the impact of epidemics is severe. Hence the need to contain outbreaks in order to avoid economic shut down within the affected regions.