Smoking Costs the World Economy $1 Trillion Per Year

A collaborative study between the National Cancer Institute and the World Health Organization finds that smoking and its side effects cost world economies more than $1 trillion dollars and kills around six million people each year. These rates are expected to rise by more than one-third by 2030.

The losses exceed annual global revenue from tobacco taxes, which was estimated to be $269 billion in 2013-2014. Less than $1 billion went towards tobacco control.

The study called smoking one of the largest causes of preventable premature death, and warned that, without more tobacco control policies in place, the consequences would become an economic issue as well as a global public health issue.

In the US, the smoking rate has declined to 5.1 percent - an all-time low. According to the Centers for Disease Control, it still remains the leading cause of preventable disease and death.

To read the full report, click here.