According to the National Institute on Drug Abuse, over 24 percent of the US population smokes. If the average smoker smoked a pack a day at $3 per pack that would equal to $1,095 a year spent on smoking. That equates to over $65 billion for the cigarette companies.
But the economic cost of smoking doesn’t stop there, in fact it doesn’t even come close to what smoking is costing our society. More than $96 billion of total US health care costs each year are directly related to the health effects of smoking.
Yet that is not the total economic cost to society because that doesn’t take into account collateral damage associated with smoking such as; fires caused by smoking, low-birth weight of babies who’s mothers smoke, and the smoking related illnesses associated with exposure to secondhand smoke.
The health costs associated with smoking are staggering and society as a whole has to pay for these costs. In addition to costs associated to health care the cost of lost productivity due to the effects of smoking are estimated at $97 billion per year. This brings the total $193 billion per year.