Elderly Australians more concerned about wealth than health: McKinsey analysis reveals

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One in 18 people over the age of 65 years will die after contracting the COVID-19 virus, according to new data from Switzerland.

But despite being most at risk, older Australians are three times more concerned about the impact of the recession than they are about their personal health, it’s been revealed in analysis by top consulting firm, McKinsey and Company published in The Australian.

Among those aged over 75, the analysis found that 59% were “very or extremely” worried about the economy while only 18% offered the same level of concern about their own health. A negligible 8% said they had been “emotionally affected” by the pandemic. These numbers are in stark contrast to the younger Australians who are far more worried about their personal health.

“Australians have expressed more concern over the economy than citizens in NZ, the US and China from the start of the crisis,” McKinsey said, comparing the results of similar surveys conducted around the globe.

Around 800 Australians took part in the confidential survey since April, which was published in medical journal The Lancet. While “the Australian economy” was the top concern related to the pandemic, the analysis also revealed a declining concern over “public health”, falling 24 points to just 36% over the first three months.

However, the latest survey conducted in July, which followed the surge of infections in Victoria, saw “public health” unease reinvigorated to 54%. The concern over the economy has remained consistent throughout the entire survey period.

A sign that there needs to be more targeted messaging to those most at risk of death?