Other financial costs
The financial costs of vision loss to the economy outside of the health system are equally as important.
These include productivity losses of those with vision loss, productivity losses of their carers and other indirect costs such as the costs of aids and modifications. These totalled $203 million in 2009 [iii].
- Lost earnings for people who are blind or have vision loss are estimated to have cost the economy just over $112 million in 2009.
- The cost of carers, including their lost earnings, is estimated at $21 million.
- Aids, equipment, home modifications and other indirect costs are estimated as $30 million.
- Deadweight losses associated with transfers (taxation revenue foregone due to lost earnings and welfare payments) are estimated as almost $39 million.
Summary of other financial costs associated with vision loss in 2009
Cost component | Estimated cost ('000) |
|---|---|
Productivity losses | $112,220,000 |
Carer opportunity costs | $21,020,000 |
Aids/ home modifications/ other indirect costs | $30,430,000 |
Deadweight losses | $39,000,000 |
Total | $202,660,000 |
Vision loss has significant social and economic costs. The non-health system costs of vision loss were almost $203 million in 2009.
[iii] Cost estimates are based on data from Statistics New Zealand, Ministry of Health, RNZFB, Australian Bureau of Transport and Road Economics, Work and Income and others. References are available in the full Clear Focus report.
This page is part of the overview report Clear Focus: The economic impact of vision loss in New Zealand in 2009.
