The Economic Cost of Homophobia

Peter Tatchell Foundation launches major new report

Peter Tatchell, just back from Russia, has launched a new report, with the backing of the Lord Speaker, Lord Fowler, which shows that countries that criminalise homosexuality suffer significant economic disadvantages; lost tourism revenue lost inward foreign aid and investment and lost talent and skills as LGBT+ people flee abroad.

The human rights abuses meted out by homophobic nations on their LGBT+ citizens is often solely seen as a violation of human rights.

But this report by the Peter Tatchell Foundation reveals that anti-LGBT+ legislation is bad for the economy and the 71 countries that still criminalise homosexuality are losing out on the economic advantages that more gay-friendly nations enjoy.

The report, The Economic Cost of Homophobia, doesn’t gloss over the human rights abuses endured by hundreds of millions of LGBT+ people worldwide but conclusively proves that discriminating nations have an economic reason, apart from human decency, to repeal unjust, outdated and unnecessary laws.

Foundation Director, Peter Tatchell said:

“The loss of inward foreign aid and investment to countries with anti-LGBT+ laws is considerable. LGBT+ people and allies are less likely to holiday in homophobic countries; potentially depriving these countries of billions in tourism revenue.

“There is a brain drain caused by LGBT+ people fleeing from homophobic nations to resettle in more gay-friendly ones. This damages the social and economic vitality of their home countries.

“Outlawing homosexuality is encouraging the emigration of highly educated LGBT+ individuals and impacting negatively on tax receipts and innovation through deterring inward aid and investment.

“We also show that the multiple forms of harassment and intolerance suffered by LGBT+ citizens within discriminatory countries. This leads to lost productivity in the workplace and damages mental and physical health – which ultimately burdens the state.

“The report argues that anti-LGBT+ laws present not only social and economic drawbacks for individual LGBT+ people, but their very existence impedes the wider economic development and long-term prosperity of a nation.”

LEAVE A REPLY

Please enter your comment!
Please enter your name here