The Untold Story of Vision Economics
Poor vision robs societies of their future and drains economies of their vitality by taxing economic growth. Uncorrected vision problems affect the productivity of 33% of the world's working population (1), with $269 billion lost globally (2). They can reduce an employee's performance by up to 20%(3). This has serious implications for industrialized and developing countries alike.
Widespread Impact
The costs of poor vision are not always obvious. For instance, 59% of road crashes can be linked to poor sight (4). The risk rises 9% with visual impairment. Financially, these crashes affect the medical, insurance and manufacturing sectors, among others.
Falls and hip fractures are seven times more likely among elderly people with impaired vision, and in Australia, the cost of falls to the healthcare system was estimated at nearly $500 million in 2001.(5)
Poor vision diminishes all humankind, yet most of us know far too little about the problem and its consequences. More research into every aspect of visual impairment's impact on economies is urgently needed.
Meeting the Challenge
Global advocacy for more research, increased treatment and better interventions will bring this issue the worldwide commitment it deserves. The Vision Impact Institute was created to build momentum toward that goal. Through the emerging field of vision economics, we assess the global impact of visual impairment due to Uncorrected Refractive Error.
We raise awareness of the issue, support the community around it and gather research on the socio-economic impact of uncorrected poor vision.
Today, at last, vision has a voice.
Understanding the Cost
Vision economics reveals the high price of failing to act.
In the United States alone, vision problems cost $8 billion USD per year in lost productivity. A Japanese study puts the cost to that country at over $70 billion USD annually — equivalent to 1.7% of GDP. Globally, $269 billion USD is lost due to uncorrected vision.(6)
Footnotes
(1) Source: BCG estimation from Infomarché 2010 (children and elderly people), Economist Intelligence Unit (labour force), WorldBank (drivers).
(2) Source: Smith et al, “Potential lost productivity resulting from the global burden of uncorrected refractive error”, Bull World Health Organ 2009; 87.
(3) Source: Daum, Kent and Katherine Clore, 2004. “Productivity associated with visual status of computer users”. Optometry 75(1)
(4) Source: Maffioletti et al, “The importance of precise sight correction for safe driving”, Università degli Studi di Milano, 2009.
(5) Source: Mitchell P et al, Blue Mountain Eye Study 2009; Moller, “Projected costs of fall related injury to older persons due to demographic changes in Australia.” Commonwealth Department of Health and Ageing 2003.
(6) Sources: Frick et al, “Economic Impact of Visual Impairment and Blindness in the United States”, 2006; Roberts et al, “Economic Cost of Visual Impairment in Japan”, 2009; Taylor et al.
Committed to Vision
Needless privation and suffering can end. But they will not end on their own.
The global response to poor vision must be broad and unrelenting, uniting professions, institutions and nations.
- Scientists, researchers and physicians must trace the causes of visual impairment and develop effective, low-cost treatments
- Economists and social scientists need to demonstrate its impact through data and show which interventions are the most valuable
- NGOs need to advocate for efficacious, cost-effective treatments for all – including those considered hardest to reach. Governments can show the political will to translate advocacy into policies enabling action
- Countries and institutional donors must provide the funding required to end visual impairment, undeterred by economic crisis
- The private sector needs to support research, development and distribution of affordable, scalable interventions
- Journalists need to communicate the scale of the problem as well as the benefits of decisively addressing it
And each of us, whatever our profession, must take responsibility for the health of our own eyes
with regular examinations, and encourage others to do the same.
Get Involved
Become an ambassador of the cause. Explain why vision economics matters, present at conferences, and promote full eye examinations by physicians and vision professionals.
Start by setting up an account, following us on Twitter, or suggesting new research or resources. It's simple, fast, and free – providing access to resources and information to take action.
