Economic Aspects of Occupational Safety and Health

The ILO estimates that approximately 2.2 million people die every year from occupational accidents and diseases, while some 270 million suffer serious non-fatal injuries and another 160 million fall ill for shorter or longer periods from work-related causes. This represents an enormous toll for workers, their families and the economy. The ILO estimates that the total costs of such accidents and illnesses amount to approximately 4 per cent of the world’s GDP – a colossal figure that is over 20 times greater than official development assistance. Other organizations have estimated that about 5 per cent of the burden of all diseases and injury in established market economies is attributable to work, which corresponds roughly to the ILO’s figure.