Willingness to pay for the vaccine in the Covid-19 pandemic: A lesson learned for future pandemic vaccine

Abstract

Our study aims to estimate the value of willingness-to-pay (WTP) for COVID-19 vaccine and relevant factors in central region of Vietnam. We conducted a cross-sectional survey among 367 people in Hue. To survey WTP, we used a contingent valuation method in a double-bounded dichotomous choice format. Multivariate median regression was applied to determine the predictors of WTP. The study involved 367 respondents with an age range of 18–74 years. Of these respondents, WTP for COVID-19 vaccine was observed in 71.9% of participants, with a mean and median WTP amount of US$38.20 and $28.87 for two doses. Age, knowledge of COVID-19, health insurance participation, belief in the effectiveness of the vaccine, and support from family/friends were found in relation to WTP. A high proportion of WTP was found, but a low amount. Knowledge and beliefs related to vaccines were found to have an impact on WTP amount. These findings can provide evidence for future consideration regarding vaccination campaigns and may contribute to tackling the barriers that block adequate vaccine coverage in the central region of Vietnam.