11/30/2016 01:24 EST

The True Cost Of Sleep Deprivation Is In The Billions

We all know not getting enough sleep at night can wreak all sorts of havoc on our physical and mental well-being, but now researchers are saying your sleep deprivation is taking a toll on the global economy too.

According to a new report published by European research company RAND, a lack of sleep costs up to $21.4 billion a year due to decreased work productivity in Canada alone. When combined with other developed economies like the United States, Japan and the U.K., the loses sky rocket to a whopping $680 billion per year.

sleep deprivation

In their report, RAND noted that sleep deprivation in Canada results in an average loss of 80,000 working days per year.

Earlier this year, Canada was ranked the third most sleep-deprived country in the world, tying with the United States.

In 2011, Statistics Canada revealed 30 per cent of Canadians got fewer than six hours of sleep per night while 60 per cent received 6.9 hours of sleep but still reported feeling tired.

Getting as little as an extra hour of sleep can lead to some major gains. According to RAND if Canadians who slept under six hours increased their sleep to six or seven hours, they could add $12 billion to the economy (not to mention, have a well-rested mind and body).

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