Vaccination Programs Would Be the Highest-Return Investment in Global Development
What He Predicted
Gates argued in his 2011 Annual Letter that childhood vaccination was the single highest-return investment in global development — preventing diseases that were killing and impoverishing families across the developing world, and generating economic returns many times greater than the cost.
What Actually Happened
A 2019 study in Health Affairs found that vaccine programs between 2001–2020 prevented 20 million deaths in 73 low-income countries. The WHO documented a $44 return for every $1 invested in childhood immunization — one of the highest measured ROIs in the history of public health.
Source: https://www.gatesfoundation.org/ideas/annual-letters/annual-letter-2011
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