Estimating worldwide costs of premature mortalities caused by COVID-19

Purpose The purpose of this paper is to provide an estimate the costs premature mortality caused by COVID-19 pandemic. Design/methodology/approach Using pandemic-derived data for November 9, 2020 (globally 1,303,215 deaths) and applying a country-based value statistical life (VSL), worldwide cost was assessed. assessed based on income groups until projected into future March 1, 2021 using three scenarios from Institute Health Metrics Evaluation (IHME). Findings global currently estimated at Int$5.9 trillion. For high-income group, current Int$ $4.4 trillion or $3,700 per person. IHME projections 2021, will increase Int$13.7 reach Int$22.1 if policies are relaxed, while with 95% universal masks Int$10.9 richest nations bear largest burden these costs, reaching $15,500 person relaxed. Originality/value human lives lost due pandemic unprecedented. Preparedness in best policy avoid many deaths severe recessions order combat pandemics.