Youth suicide costs a staggering RM350 mil each year, according to Relate Malaysia’s new study. In the paper, Economic Cost of Youth Suicide Malaysia, Relate Malaysia found that, for every youth suicide in 2019, the Malaysian economy lost RM676,165. Dr Chua Sook Ning – clinical psychologist and founder of Relate Malaysia – said the shocking […]
The government has found a rising trend in suicide among youths in Malaysia. It is estimated that in 2019, 512 youths ended their lives by suicide (74.3% of whom were young males). Besides the immeasurable emotional toll due to suicides on families, suicides have an economic impact on communities, societies and the nation, with loss of manpower and income for families, employers and the government. This paper estimates the economic cost of youth suicide in 2019 based on the economic loss due to foregone income and the loss of potential government revenue due to foregone personal taxes. In 2019, youth suicide is estimated to cost the Malaysian economy a high price of RM346.2 million or RM676,165 per suicide. The investment in Malaysia’s economy must include an investment in the mental health of young people, including the development of effective suicide prevention strategies.
