Work-related accidents cost €476bn per year
8 September, 2017
Work-related ill-health and injury cost the EU 3.3% of its GDP, or €476bn every year, according to new estimates presented last Monday by the European Agency for Safety and Health at Work (EU-OSHA) together with the International Labour Organization (ILO) at the XXI World Congress on Safety and Health at Work in Singapore.
The new findings reveal that worldwide work-related injury and illness result in the loss of 3.9% of GDP, or roughly €2,680bn, which could be saved with the right occupational safety and health (OSH) strategies, policies and practices.
“Safe and healthy work is a fundamental human right, but these new estimates show that the economic case for OSH has never been stronger,” EU-OSHA's Director Dr Christa Sedlatschek said. “Work-related ill-health and injury is costing the EU billions, which could be saved with the right occupational safety and health strategies, policies and practices,” she pointed out.
Good practice in OSH can help make businesses productive, competitive and sustainable, as well as reduce healthcare costs and other societal burdens. But the costs of poor OSH are high. In most European countries, work-related cancer accounts for the majority of costs (€119.5bn), with musculoskeletal disorders following.