Natural Disasters with The Worst Economic Impact

THE NATURAL DISASTERS WITH THE WORST ECONOMIC IMPACT



THE LAST DECADE OF NATURAL DISASTERS IN THE UNITED STATES

(NATURAL DISASTER COST)



Estimated Damage $USD



$120B

$90B

$60B

$30B



2000

EMI-DAT: The OFDA/CRED International Disaster Database - www.emdat.net - Universite catholique de Louvain - Brussels - Belgium

2008



Hurricane Katrina

08/29/05 $125 Bil.



Charley, Frances, Ivan & Jeanne



Hurricane Ike

12/9/08 $30 Bil.



= $5 BILLION



HURRICANE KATRINA



SITE OF DISASTER:



TYPE: STORM



ECONOMIC COST:

$125 BILLION



Hurricane Katrina was the most costly hurricanes in United States history. The hurricane caused economic damage to a variety of industries. Katrina destroyed or damaged 30 oil platforms and closed 9 oil refineries. The forest industry was hurt as well when 1.3 million acres weer destroyed, costing an estimated $5 billion. Nearly all residents of New Orleans became unemployed after the storm.



HURRICANE ANDREW



SITE OF DISASTER:



TYPE: STORM



ECONOMIC COST:

$41 BILLION



Hurricane Andrew struck in August 1992 and was the costliest U.S. hurricane until it was surpassed by Hurricane Katrina. Around 1,500 National Guard troops were deployed to Florida to prevent looting after the hurricane. Insurance claims after the storm led to the bankruptcy of 11 insurance agencies. Around 16 billion dollars of the total losses were insured.



GREAT FLOOD OF 1951



SITE OF DISASTER:



TYPE: STORM



ECONOMIC COST:

$7 BILLION



In June and July 1951, heavy rains caused record-breaking floods in the midwest. The water exceeded all official measuring gauges so specific flood levels are unknown. flood waters ran over the tops of levees in Kansas City, and water levels reached the roofs of houses in some places, causing the evacuation of 15,000 people.



1989 LOMA PRIETA EARTHQUAKE



SITE OF DISASTER:



TYPE: EARTHQUAKE



ECONOMIC COST:

$10 BILLION



The earthquake struck on October 17, 1989. Because it occurred during the warm-ups for the world series, it was the first major American earthquake have it's initial moments broadcast live. Buildings and bridges were damaged across the bay area. The earthquake was on of the most expensive natural disaster at the time. 9 days after the quake, then-president George H. W. Bush signed a $3.45 billion dollar relief package for the damaged areas.



2004 INDIAN OCEAN EARTHQUAKE



SITE OF DISASTER:



TYPE: EARTHQUAKE



ECONOMIC COST:

$13 BILLION



Occurring the day after Christmas in 2004, this underseas earthquake created a series of tsunamis affecting people in 14 countries. Tsunami waves reached 100 feet high. It was the second-largest earthquake ever recorded on seismograph. Local coastal fishing economies, including some of the poorest people in the region, were devastated. The earthquake also affected shipping by changing the seabed, requiring time-consuming remapping.



KOBE EARTHQUAKE



SITE OF DISASTER:



TYPE: STORM



ECONOMIC COST:

$102.5 BILLION



This enormous earthquake struck in January 1005, resulting in the deaths of nearly 6,500 people. It was the worst earthquake Japan had ever experienced at that time. The earthquake destroyed road and highways, as well as the 70% of the Osaka-Kobe railway tracks. Only 3% of the property in the Kobe area was covered by earthquake insurance. The earthquake also caused major Japanese markets to plunge following the quake.



1980 IRPINIA EARTHQUAKE



SITE OF DISASTER:



TYPE: EARTHQUAKE



ECONOMIC COST:

$9.6 BILLION



Occurring in southern Italy on November 23rd, 1980 this earthquake caused 300,000 people to lose their homes. Many countries including Germany and the United States contributed multi-billion dollar aids packages. However 10 years later, scandals emerged indicating only a portion of the relief money was used for relief.



*Economic cost based on amount actually spent on aid



2010 HAITI EARTHQUAKE



SITE OF DISASTER:



TYPE: EARTHQUAKE



ECONOMIC COST:

$? BILLION (ESTIMATED LOW BILLIONS)



On the 12th of January a large earthquake struck near the Haitain city of Port-au-Prince, resulting in the deaths of an estimated 170,000 people. Around 20,000 commercial buildings were also destroyed in the earthquake. Although the economic impact of the disaster is currently unknown, estimates have been made that it will be in the "low single-digit billions". THE NATURAL DISASTERS WITH THE WORST WORST ECONOMIC IMPACT THE LAST DECADE OF NATURAL DISASTERS IN THE UNITED STATES (NATURAL DISASTER COST) Estimated Damage ŞUSD $120B Hurricane Katrina 08/29/05 $125 Bil. $90B $60B $30B Charley, Frances, Ivan, & Jeanne Rita & Wilma Hurricane Ike 12/9/08 $30 Bil. L..-.-- -I. 2000 EM-DAT: The OFDA/CRED International Disaster Database - www.emdat.net - Université catholique de Louvain - Brussels - Belgium 2008 | = $5 BILLION HURRICANE KATRINA Muricane Katrina was the most costly hurricanes in United States history. The hurricane caused economic damage to a variety of industries. Katrina destroyed or damaged 30 oil platforms and closed 9 oil refineries. The forest SITE OF DISASTER: ECONOMIC COST: industry was hurt as well when 1.3 million acres were destroyed, costing an estimated $5 billion. Nearly all residents of New Orleans became unemployed after the TYPE: STORM $125 BILLION storm. HURRICANE ANDREW Hurricane Andrew struck in August 1992 and was the costliest U.S. hurricane until it was surpassed by Hurricane Katrina. Around 1,500 National Guard troops were deployed to Florida to prevent looting after the hurricane. Insurance claims after the storm led SITE OF DISASTER: ECONOMIC COST: $41 BILLION to the bankruptcy of 11 insurance agencies. Around 16 billion dollars of the total losses were insured. TYPE: STORM GREAT FLOOD OF 1951 In June and July 1951, heavy rains caused record-breaking floods in the midwest. The water exceeded SITE OF DISASTER: all official measuring gauges so specific flood levels are unknown. Flood waters ran over the tops of levees in Kansas City, and water ECONOMIC COST: $7 BILLION levels reached the roofs of houses in some places, causing the evacuation of 15,000 people. TYPE: STORM 1989 LOMA PRIETA EARTHOUAKE The earthquake struck on October 17, 1989. Because it occurred during the warm-ups for the world series, it was the first major American earthquake have it's initial moments broadcast live. Buildings and bridges were damaged across the $10 BILLION bay area. The earthquake was one of the most expensive natural disasters at the time. 9 days after the quake, then-president George H. W. Bush signed a $3.45 billion dollar relief package for the SITE OF DISASTER: ECONOMIC COST: TYPE: EARTHQUAKE damaged areas. 2004 INDIAN OCEAN EARTHOUAKE Occurring the day after Christmas in 2004, this undersea earthquake created a series of tsunamis SITE OF DISASTER: affecting people in 14 countries. ECONOMIC COST: Tsunami waves reached 100 feet high. It was the second-largest earthquake ever recorded on $13 BILLION seismograph. Local coastal fishing economies, including some of the poorest people in the region, were devastated. The earthquake also affected shipping by changing the seabed, requiring time-consuming remapping. TYPE: EARTHQUAKE KOBE EARTHQUAKE This enormous earthquake struck in January 1995, resulting in the deaths of nearly 6,500 people. It was the worst earthquake Japan had ever experienced at that time. The earthquake destroyed roads and highways, as well as the 70% of the Osaka-Kobe railway tracks. Only 3% of the property in the Kobe area was covered by earthquake insurance. The earthquake also caused major SITE OF DISASTER: ECONOMIC COST: TYPE: STORM $102.5 BILLION Japanese markets to plunge following the quake. Occurring in southern Italy on 1980 IRPINIA EARTHQUAKE November 23rd, 1980 this earthquake caused 300,000 people to lose their homes. Many countries including Germany and the United States contributed SITE OF DISASTER: ECONOMIC COST: multi-billion dollar aids packages. $9.6 BILLION However 10 years later, scandals emerged indicating only a portion of the relief money was used for relief. TYPE: EARTHQUAKE *Economic cost based on amount actually spent on aid On the 12th of January a large 2010 HAITI EARTHQUAKE earthquake struck near the Haitain city of Port-au-Prince, resulting in the deaths of an estimated SITE OF DISASTER: 170,000 people. Around 20,00O commercial buildings were also destroyed in the earthquake. $? BILLION Although the economic impact of the disaster is currently unknown, ECONOMIC COST: (ESTIMATED LOW BILLIONS) estimates have been made that it will be in the "low single-digit billions". TYPE: EARTHQUAKE