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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