Proposal, the EU must adapt the tobacco market - At the European level, the tobacco sector turns over 223.7 billion euros per year
A non-governmental organization called the European Policy Innovation Council recently published the study "How Europe can save millions of lives by promoting economic growth." The material highlights the economic impact that the tobacco chain has at the European level and offers a pragmatic perspective on regulating this market.
According to the authors, given that tobacco and nicotine users will not disappear overnight, Europe should encourage the adoption of safer alternatives.
This is achieved by creating a strictly controlled European industry. This achieves three goals at the same time: preserving the economic contribution of a fully European industry, improving public health and preventing the illegal market of products with low safety standards, mainly coming from China.
At the European level, the tobacco sector contributes 223.7 billion euros per year to GDP, a figure equivalent to 1.3% of the total GDP of the European Union.
Total annual revenue from tobacco taxes amounts to 112.9 billion euros. The industry employs, directly and indirectly, more than 2.1 million people.
By eliminating the illicit cigarette market, the EU would eliminate the loss of 11.6 billion euros per year. The report calls on the institutions to adopt a regulatory framework that protects the European tobacco chain.
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