The GRSF Road Crash Cost Analysis Tool helps countries understand the economic burden of road traffic crashes and estimate the Value of a Statistical Life (VSL)—a key input for cost–benefit analysis of road safety investments. VSL represents the monetary value society places on reducing the risk of a fatality and is essential for calculating the socio-economic costs of road crashes.
Many low- and middle-income countries lack country-specific VSL studies, so the tool applies a methodology based on World Bank income classifications to generate robust, comparable estimates, as outlined in the paper, The Value of a Statistical Life in the Context of Road Safety: A New Value Transfer Approach. These estimates provide a practical evidence base for policymakers, planners, and researchers to prioritize road safety investments and design cost-effective interventions—especially in countries where local VSL data are not yet available.
How to use the tool
- Select a country either by clicking on the world map or using the drop-down menu.
- Choose a data year (2020 or 2021).
- Instantly view key indicators, including estimated VSL (in US dollars) derived from World Bank income data, the estimated number of road crash fatalities and serious injuries, and the total economic cost of these crashes and its share of national GDP.
Formulas for calculations are listed underneath the tool.
GRSF Road Crash Cost Analysis Tool
Formulas
- VSL for Low and Middle-Income Countries (LMICs): VSL = 0.404 × (Y / 5,726)1.2
- VSL for High Income Countries (HICs): VSL = 3.206 × (Y / 42,087)0.8
- Where VSL is in million US$ and Y is the Gross National Income (GNI) per capita (US$, 2020 prices).
- Inflation Adjustment: VSL in year i = VSL in i-1 × (1+R)
- Example for 2020 to 2021: VSL in year 2021 = VSL in 2020 × (1+R)
- Where R is the inflation rate from i-1 to i (e.g., from 2020 to 2021).
- The Value of a Statistical Injury (VSI): VSI = VSL × the percentage of VSI to VSL
- Where the percentage of VSI to VSL is 25%
- The number of Serious Injuries is calculated as 10 times of the number of fatalities.
Read the publication
