According to the Polish Institute of Economics (PIE), Europe is facing a so-called depression epidemic that hurts the region's economic performance. Earlier, more pronounced mental health and psychosocial challenges were triggered by the COVID-19 pandemic, and now by the Russian-Ukrainian conflict.
Depression and anxiety disorders are becoming more common in today’s world. At the same time, experts attribute economic turmoil to poor mental health among EU citizens.
The PIE survey shows that 62% of respondents do not feel mentally and emotionally stable. The state of mental health in Europe was a cause for concern even before that time. According to estimates, depression and anxiety disorders cost the 27 EU countries and the United Kingdom about 4.2% of GDP, or more than €600 billion.
The study reveals that a surge in anxiety and depressive disorders has a negative bearing on labor productivity and the labor force participation rate. In this regard, experts are sounding the alarm and calling for more attention to the situation. “Every US$ 1 invested in scaling up treatment for depression and anxiety leads to a return of US$ 4 in better health and ability to work,” the World Health Organization assumes.