Ian
priscilla 1World's Most Expensive Natural Disaster
May 18th 2011 01:48
As reported on the Daily Telegraph (link above to original article), with all the earthquakes, floods, hurricanes, volcanic eruptions and numerous other natural disasters afflicting the world in recent times, how do these compare with major calamities in previous years?
In financial terms at least, here are the most costly natural disasters in history.
The devastation caused by the south-east Asian tsunami of 2004 reached countries as far as Somalia and Tanzania.
Although an official estimate by the Indonesian government and the World Bank in 2005 put the destruction of property and businesses at a cost of around $4.4bn, its global economic impact is likely to have been much more. The International Labour Organisation estimated that 1m jobs were lost in Indonesia and Sri Lanka alone as a result of the earthquake and tsunami, while the damage in India was estimated to be as high as $6bn.
This 7.6 magnitude earthquake tore through the country in just 37 seconds, claiming the lives of more than 17,000 people and injuring 44,000.
Ike was so powerful that, after destroying much of the Caribbean and making landfall in Texas, its effects could be felt as far north as London, Ontario, which saw downed power lines and uprooted trees.
The Chuetsu earthquake actually proved to be several major tremors that rocked Japan minutes apart from each other. During the first 66 hours of the disaster, a total of 15 significant quakes hammered the region, injuring more than 3,000 people and killing 40.
Continuous rains during the spring of 1998 resulted in three straight months of flooding in China's northern provinces. As many as 4,000 people were killed by the floods, which also drove 14m Chinese from their homes, and 18.3m acres of the country were evacuated.
In financial terms at least, here are the most costly natural disasters in history.
Indian ocean earthquake and tsunami, 2004. Cost at least $4.4bn
Although an official estimate by the Indonesian government and the World Bank in 2005 put the destruction of property and businesses at a cost of around $4.4bn, its global economic impact is likely to have been much more. The International Labour Organisation estimated that 1m jobs were lost in Indonesia and Sri Lanka alone as a result of the earthquake and tsunami, while the damage in India was estimated to be as high as $6bn.
Izmit earthquake, Turkey, 1999. Cost $26bn
Hurricane Ike, US, 2008. Cost $30bn.
Chuetsu earthquake, Japan, 2004. Cost $32bn.
Yangtze River floods, China, 1998. Cost $40bn.
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