Willingness to pay for a COVID-19 vaccine high in Chile

The willingness to pay (WTP) for a vaccine against coronavirus disease 2019 (COVID-19) is high in Chile, report researchers from that country.

The researchers used a contingent valuation approach to estimate the WTP for a hypothetical COVID-19 vaccine among individuals in Chile. An online survey was used to explore preferences, attitudes and perceptions regarding the COVID-19 pandemic and a hypothetical vaccine.

The analysis of data from 566 survey respondents showed that a large majority (99.1%) thought they were well informed about COVID-19, 92.4% believed they might get sick, and 90.6% indicated they were willing to pay for a vaccine. The individual WTP was high, with an average of $US184.72. Extrapolation of the individual WTP to the adult population resulted in a value of approximately $US2223 million for the COVID-19 vaccine, which represents 0.76% and 1.09% of Chile's GDP and GDP per capita, respectively. The main variables that affected the WTP value were the pre-existence of chronic diseases, the level of knowledge of COVID-19, and having COVID-19. The WTP was also influenced by the perception of government performance in managing the pandemic, employment status and income. Variables that negatively affected the WTP included enrolment in a private health system and having recovered from COVID-19. "These latter variables could be used to define strategies for public health policy intervention to confront the COVID-19 pandemic," suggest the researchers.