Finance

Tobacco costs global economy $1trn annually —WHO

A study has revealed that tobacco costs global economy more than $1 trillion annually.

The study, The economics of tobacco and tobacco control, conducted by the World Health Organization (WHO) and the National Cancer Institute of the United States of America, indicated that effects of unchecked tobacco production into global economy costs more than six million people their lives, “with most living in developing countries” and an additional $1 trillion in healthcare expenditures.

The study, published on Tuesday, also warned that eight million people could die in a year if tobacco industry was not controlled.

“Left unchecked, the tobacco industry and the deadly impact of its products cost the world’s economies more than $1 trillion annually in healthcare expenditures and lost productivity, according to findings published in The economics of tobacco and tobacco control,” it said.

WHO, therefore, advocated for policies to control tobacco use, including tobacco tax and price increases, saying this can generate significant government revenues for health and development work.

Source: Tribune

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