The US government has already spent considerable sums to fight the COVID-19 pandemic. Now, a modest new investment of around $12 billion to educate and encourage vaccine skeptics could hasten the pandemic’s end and add around $1 trillion to US GDP.
Investing to support COVID-19-vaccine adoption could have outsize economic impact.
Investment and potential return, $ billion
- Potential investment needed to support COVID-19 vaccine adoption at scale: $8–12 billion
- US Government spend on COVID-19-vaccine development, supply, and acquisition to date: 10$ billion
- US Government Public Health and Social Services Emergency Fund for COVID-19 response: 230$ billion
- Difference in US GDP between partially effective regional vaccine adoption versus widespread national vaccine adoption: $800–1,100 billion
Source: Oxford University; US Department of Health and Human Services; US Government Accountability Office; McKinsey
McKinsey & Company
To read the article, see “COVID-19 vaccines meet 100 million uncertain Americans,” December 18, 2020.