What were the economic impacts of the 2004 tsunami?
Also, the island reported devastating economic loss in millions of dollars due to hotels, housing, public utilities, and fishing damages. More than 300 deaths were reported and 5,000 displaced. Tsunami killed ten people with unknown number missing along with significant economic damages.
What was an economic impact of the Indian Ocean tsunami?
In terms of the death toll and the number of displaced people, this was the worst natural disaster in recorded history in Indonesia, Sri Lanka and Thailand. The total economic cost of damage was estimated at US$ 9.4 billion. In Aceh the cost of damage (US$4.5billion), was almost equal to its GDP in the previous year.
How much money in damage did the 2004 tsunami caused?
The Boxing Day tsunami of 2004 is the deadliest and most destructive tsunami in recorded history, claiming the lives of over 230,000 people in 14 different countries and damaging over 14 billion US dollars worth of property.
How much damage did the Indian Ocean tsunami cost?
The Impacts An astonishing roughly quarter million people (227,899) were killed or missing and presumed dead, including tourists, making this the deadliest tsunami in history. About 1.7 million people were displaced. Total damage was estimated at roughly $13 billion (2017 dollars).
What are the economic impacts of tsunamis?
Loss of income in the local economy and future losses from the destruction of infrastructure will be a problem for some time to come. The total financial cost of the tsunami could be millions or even billions of dollars of damage to coastal structures and habitats.
What is the economic impact of earthquakes?
Effects of an earthquake
Social impacts | Economic impacts | |
---|---|---|
Long-term impacts | Disease may spread. People may have to be re-housed, sometimes in refugee camps. | The cost of rebuilding a settlement is high. Investment in the area may be focused only on repairing the damage caused by the earthquake. Income could be lost. |
What are economic impacts of tsunamis?
How do tsunamis affect the economy?
Economy Immediately following a tsunami disaster, many businesses will be unable to trade because of destruction to premises, stock, machinery, facilities, transport networks, supplies and loss of staff.
What are the economic impacts of a tsunami?
How much money did it cost to rebuild after the 2004 tsunami?
The disaster generated a massive aid and reconstruction program, with around 463 non-government organisations and agencies spending around $7.5 billion. This made post-tsunami Aceh one of the largest reconstruction projects in the developing world. Australian donors and the government gave more than $1 billion.
What are the economic effects of tsunamis?
What effects do tsunamis have on the economy?