A new report recently published by the World Economic Forum and EYElliance says using eyeglasses to correct the eyesight of the 2.5 billion people currently living with poor vision could generate massive returns in educational attainment and economic growth.
The report, "Eyeglasses for Global Development: Bridging the Visual Divide," is reportedly the first initiative of EYElliance — an organization co-founded by Dr. Jordan Kassalow of the Schwab Foundation with a mission of closing the gap to eyeglass access.
According to the report, the global economy loses about $227 billion every year due to lost productivity among adults who need eyeglasses. The report says providing affordable access to glasses would boost productivity by almost 34 percent. Additionally, providing glasses to children with poor vision would result in improved learning environments and would provide a high-impact educational and economic investment.
The report found in 2015, only about 8 million pairs of eyeglasses were distributed to less-developed countries with about $37 million — or 2 cents per affected person — spent by the international donor community to address the glasses issue. That is reportedly less than 1 percent of the resources allocated to address other global health issues such as malaria and access to clean water and energy.
Released as part of the World Economic Forum's 10th Annual Meeting of the New Champions to be held June 26-28 in Tianjin, China, the report offers recommendations for governments and businesses interested in helping address this global challenge, as well as technology and innovation areas for further exploration.
Click here to read the full press release.
Source: World Economic Forum