Chinese consumers' willingness to get a COVID-19 vaccine and willingness to pay for it

Abstract

A COVID-19 vaccine is the key to beating the virus, and effective vaccines are going to be available in the near future. It is urgent to estimate the acceptability of COVID-19 vaccines and their value to individuals, in order to develop an effective public vaccination strategy. Based on a survey of 1,188 randomly selected respondents in China, we analyzed Chinese consumers' willingness to get a COVID-19 vaccine and their willingness to pay for it. We find that 79.41% of the respondents are willing to get vaccinated in China, and the average amount that they're willing to pay for a COVID-19 vaccine shot is 130.45 yuan. However, though the elderly are at higher risk of infection and the disease could be fatal for them, they are less willing to get the vaccine and not willing to pay as much for the shot. Subsidies and health communication concerning COVID-19 vaccines should be provided in order to expand vaccination coverage.