Billions in losses due to Long Covid: Financial analysis shows effects on German companies

Billions in losses due to Long Covid: Financial analysis shows effects on German companies

According to a report by www.fr.de, millions of people in Germany have fallen ill with Long Covid, leading to billions in losses for companies and pension funds. A study by Afschin Gandjour, professor of health economics at the Frankfurt School of Finance & Management, found that companies suffer up to 3.4 billion euros in production losses annually due to Long Covid. In addition, the financial burden on the health and pension system amounts to a further 1.7 billion euros. Gandjour assumes that 0.4 percent of employees would be completely or partially absent in the medium term.

The RWI - Leibniz Institute for Economic Research also reported high costs due to lost work due to Long Covid. An online survey of around 1,000 people affected showed that they were on sick leave for an average of 237 days and that the resulting loss of work amounted to 22,200 euros per person.

The federal government plans to make more than 180 million euros available for Long Covid research in the coming years, although this could potentially be influenced by austerity measures resulting from the budget ruling.

From a financial perspective, these costs and lost work hours due to Long Covid could have a significant impact on the market. Companies face lost production and a reduced labor pool, which could lead to economic challenges. In addition, pension funds and the health system could experience additional burdens. It is important that the government and businesses take appropriate measures to deal with the financial and social impact of Long Covid.