Loneliness is a growing problem in Denmark. Økonomer Uden Grænser, Copenhagen Economics and Impactly are now launching Ensomhed i Tal: a tool to help organizations calculate the socio-economic impact of their efforts.
Around 600,000 Danes over the age of 16 feel lonely. Loneliness is associated with a societal cost of around DKK 193 billion annually, i.a. in the form of increased healthcare costs, higher unemployment, increased number of sick days and reduced well-being.
Fortunately, there are many organizations that work every day to reduce loneliness through social initiatives. But it is difficult for the organizations to estimate and communicate the concrete benefits of their efforts, because the calculations are often complex and time-consuming.
With Ensomhed i Tal, Copenhagen Economics, Økonomer Uden Grænser and Impactly will give organizations the opportunity to put concrete numbers on the socio-economic benefits of their efforts.
"We know that a social effort that reduces loneliness, and thus improves citizens' quality of life, does not only have an effect on the individual. It also has an economic benefit for society. Therefore, we also need to start valuing what we value - such as friends and communities. With Ensomhed i Tal, we make it easier for social actors to calculate and report the socio-economic benefits of their efforts. This makes clear the actors' enormous importance in the fight against loneliness."
- Adna Husagic, board member at Økonomer Uden Grænser.
Research has shown that there are significant socio-economic benefits associated with reducing loneliness, as it can lead to e.g. reduced healthcare costs and fewer sick days. The tool calculates the socio-economic effect that can be expected from different types of efforts, based on recognized literature, as well as values from the Open Social Value Bank initiative, which puts numbers on the socio-economic value of increased well-being.
"The aim was to create a tool that could contribute to well-informed decisions when prioritizing funds in the important fight to reduce loneliness. In collaboration with our partners, the result has become a tool based on a thorough review of recognized studies in the field, which can be used by all organizations working with loneliness initiatives.”
- Tuomas Haanperä, Partner in Copenhagen Economics.
"If we are to end loneliness, there is a need for user-friendly tools that can illustrate how big a difference loneliness efforts make. That is why we at Impactly are proud of Loneliness in Numbers and our participation in the National Partnership against Loneliness, because we can contribute by making it easier to document the results of loneliness efforts in a language, i.e. kroner and øre, which decision-makers can better understand and act on."
- Johan Dubert, CEO at Impactly.
Read more about the tool at www.ensomhedital.dk.
Økonomer Uden Grænser is a global non-profit organization that brings together economists and experts to solve socio-economic challenges and promote sustainable development worldwide.
Copenhagen Economics is an international economic consultancy with expertise in social economics. We help our clients make important decisions based on objective analyzes and financial models.
Impactly is a technology company that helps organizations measure and clarify the social impact of their efforts to create positive change in society.
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