How prioritizing health could help rebuild economies
Before the COVID-19 pandemic, health typically wasn’t part of economic-growth discussions: the policy debate often focused on controlling healthcare costs. Informed forecasts suggest that the pandemic and its effects will cost the global economy up to 8 percent of real GDP in 2020.1 Yet each year, poor health costs twice as much—around 15 percent of global real GDP from premature deaths and lost productive potential among the working-age population. As organizations around the world look for tools to speed up economic recovery, rethinking health as an investment, not just a cost, could accelerate growth for decades to come.
McKinsey’s latest article highlights four lessons from the pandemic show how to build a healthier and more prosperous future: