Low-cost health measures could save $6 trillion by 2040, a major revelation in a WEF report Low-cost health measures could save $6 trillion by 2040, a major revelation in a WEF report

The World Economic Forum (WEF) has released an extremely far-sighted and shocking report regarding global health and economy. The report, titled ‘The Longevity Dividend: The Business Case for Linking Health and Wealth’, claims that if governments and corporates around the world prioritize low-cost preventive health measures, the global health system could save a whopping $6 trillion by 2040. Along with this, additional productivity of approximately $645 billion can also be generated through these virtuous and economical steps, which will provide a new boost to the entire global economy.

Make Preventive Healthcare an Economic Investment: Emphasis on Physical Activity and Hearing Aids

The World Economic Forum clearly believes that governments and businesses need to stop dichotomizing health and wealth. Prevention-based health care should be viewed as an excellent economic investment rather than an expense. The report highlights the economic benefits of promoting regular physical activity to stem the growing burden of lifestyle diseases such as type 2 diabetes. In young economies like Indonesia, Nigeria and Vietnam, where the elderly population is increasing, the incidence of diabetes is also rising rapidly, which increases the relevance of these prevention measures. Additionally, increasing access to hearing aids to improve hearing not only helps prevent neurological problems such as dementia, but also has many other broader social and economic benefits.

Rising housing costs and real estate crisis in 21 countries including India

WEF’s comprehensive report expresses deep concern not just about health, but also about another serious structural crisis affecting the lives of ordinary citizens—housing affordability issues. According to the report, house prices in 21 countries of the world including India have far exceeded the purchasing power and affordable limit of the common man. In rapidly growing economies such as India, Nigeria and Colombia, the monthly financial burden of buying or owning a new home often exceeds or exceeds the average citizen’s entire monthly income, putting a huge strain on families’ retirement savings.

Despite slight improvement in prices relative to wages, buying a home is still very difficult

The study points to a worrying trend in which property prices as a proportion of wages have declined by 15 per cent in the last decade in developing countries like India, Brazil and Indonesia, yet buying one’s own home remains a difficult dream for ordinary families. This nominal and token slowdown in the real estate market is not providing any real financial relief to the average middle class family, due to which there is an urgent need to take concrete and visionary steps at the policy level, both on the health and basic living standards front.