Mitigating economic losses from epidemics requires a multi-faceted approach:
Early Detection and Response: Investing in surveillance systems and rapid response mechanisms to contain outbreaks early. Public Health Infrastructure: Strengthening healthcare systems to handle surges in patient care and reduce healthcare costs. Economic Diversification: Diversifying economies to reduce dependency on specific sectors that may be heavily impacted by epidemics. International Cooperation: Enhancing global collaboration for resource sharing and coordinated responses to minimize disruptions. Insurance Mechanisms: Developing financial products such as pandemic insurance to provide economic resilience.
