The 2010 Breaking The Silence report, estimated the economic cost of suicide in Australia to be over $17 billion.
The Report was funded by a broad range of organisations working in suicide prevention including:
- Lifeline Australia
- The Inspire Foundation,
- OzHelp Foundation
- Centre for Mental Health Research, ANU
- Suicide Prevention Australia
- The Salvation Army
- Brain and Mind Research Institute.
In arriving at the $17 billion figure, the report’s authors estimated that the Value of a Statistical Life (VoSL) lost to suicide is $6 million.
This figure is still used in 2016 by leading organisation in the world of suicide prevention such as the Black Dog Institute.
Using the VoSL figure of $6m we can make estimates about the economic cost of male and female suicide as follows:
|Item measured||Number||Economic Cost|
|Number of male suicides per year (2015)||2,292||$13.752 billion|
|Number of female suicides per year (2015)||735||$4.41 billion|
|Economic impact of closing Gender Suicide Gap (2015)||1,557||$9.342 billion|