By Flavia Bustreo, Global leader for health & rights of women, children, adolescents & elderly & Former Assistant Director-General at WHO, Gabriela Ramos, Assistant Director-General for Social and Human Sciences, UNESCO and Felicia Knaul, Director, Institute for Advanced Study of the Americas, Professor, Department of Public Health Sciences at the Miller School of Medicine
Last year, in early February, we joined global leaders and Ministers from a number of countries at a landmark conference organised by the OECD on ending violence against women. The first of its kind, it reflected the rising recognition among OECD countries that violence against women is both a grave violation of human rights as well as an economic sinkhole. The COVID-19 crisis has magnified the existing ‘pandemic within a pandemic’ of violence, with devastating consequences for individuals, and for our societies and economies at large.
Even in non-pandemic times, the economic impact of gender-based violence is staggering and has traditionally been vastly underestimated. Considering only direct costs, gender-based violence reduces global gross domestic product (GDP) by 2% per year, equivalent to an annual loss of more than US$1.6 trillion. In some countries, the annual costs of gender-based violence have been estimated at more than 3.5% of GDP, nearly half of what OECD countries spend on average on all healthcare. These figures, however, are but the tip of the iceberg, accounting only for direct medical costs and immediate productivity losses. A broader model – taking account of the lost capabilities of survivors and caregivers, and how these traumas and hardships are transmitted across generations – would reveal a far higher figure of the cost of inaction.Continue reading