List of disasters by cost: Difference between revisions
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Revision as of 18:55, 16 February 2024
Disasters can have high costs associated with responding to and recovering from them. This page lists the estimated economic costs of relatively recent disasters.
The costs of disasters vary considerably depending on a range of factors, such as the geographical location where they occur. When a large disaster occurs in a wealthy country, the financial damage may be large, but when a comparable disaster occurs in a poorer country, the actual financial damage may appear to be relatively small. This is in part due to the difficulty of measuring the financial damage in areas that lack insurance. For example, the 2004 Indian Ocean earthquake and tsunami, with a death toll of around 230,000 people, cost a 'mere' $15 billion,[1] whereas in the Deepwater Horizon oil spill, in which 11 people died, the damage was six times higher.
The most expensive disaster in human history is the Chernobyl disaster, costing an estimated $700 billion.[2] Chernobyl's circumstances make it a unique but particularly devastating situation that is unlikely to ever happen again. Estimations have only increased over time, with the recent figure coming from the release of new government data up to 2016.[2] Furthermore, the cost is expected to perpetually increase for several thousand years as cleanup operations and the economic impact of the Chernobyl Exclusion Zone continue indefinitely.[3] The most expensive natural disaster is the 2011 Tōhoku earthquake and tsunami, costing an estimated $360 billion.[4]
Over $1 billion
This table lists disasters which are estimated to have an economic cost of at least 1 billion United States dollars without taking inflation into account.
Cost | Fatalities | Event | Type | Year | Nation(s) | |
---|---|---|---|---|---|---|
$Billion | $Billion (2023 unless otherwise stated) | |||||
$700[2] | $889 (2016) | 60 – 60,000 | Chernobyl disaster | Contamination (Radioactive) | 1986 | ![]() ![]() ![]() |
$360[5][6][4] | $488 | 19,759 | 2011 Tōhoku earthquake and tsunami + Fukushima nuclear disaster | Undersea Megathrust Earthquake, Tsunami, Contamination (Radioactive) | 2011 | ![]() |
$197[7] | $393.9 | 5,502 – 6,434 | Great Hanshin earthquake | Earthquake | 1995 | ![]() |
$163.6[8][9] | $163.6 (2023) | 59,259 | 2023 Turkey–Syria earthquake | Earthquake | 2023 | West Asia (![]() ![]() |
$148[10] | $209 | 87,587 | 2008 Sichuan earthquake | Earthquake | 2008 | ![]() |
$125[11] | $195 | 1,245 – 1,836 | Hurricane Katrina | Tropical cyclone | 2005 | ![]() |
$125[11] | $155 | 107 | Hurricane Harvey | Tropical cyclone | 2017 | ![]() |
$113[11] | $127 | 161 | Hurricane Ian | Tropical cyclone | 2022 | North America (![]() ![]() ![]() |
$105[12][13] | $124 | 6,511 | 2020 South Asian floods | Flood | 2020 | South Asia (![]() ![]() ![]() |
$91.6[11] | $114 | 3,057 – 8,498[14] | Hurricane Maria | Tropical cyclone | 2017 | North America (![]() ![]() ![]() |
$75[15] | $84 | 107 | Hurricane Ida | Tropical cyclone | 2021 | North America (![]() ![]() ![]() |
$70[16] | $82 | 451 | 2019–20 Australian bushfire season | Wildfire | 2019-20 | ![]() |
$68.7[11] | $91 | 233 | Hurricane Sandy | Tropical cyclone | 2012 | North America (![]() ![]() ![]() |
$64.8[11] | $81 | 134 | Hurricane Irma | Tropical cyclone | 2017 | North America (![]() ![]() ![]() |
$60 – $100[17] | $84 – $140 | 11 | Deepwater Horizon oil spill | Contamination (Oil) | 2010 | ![]() |
$53.25[18] | $131 | 5,000+ | 1988–1990 North American drought | Drought | 1988-89 | ![]() ![]() |
$49.6 – $56.1[19] | $65 – $73 | 104 | 2012–2013 North American drought | Drought | 2012-13 | ![]() ![]() |
$49[20] | $101 | 57 | 1994 Northridge earthquake | Earthquake | 1994 | ![]() |
$45.7[21] | $62 | 815 | 2011 Thailand floods | Flood | 2011 | ![]() |
$40[22] | $54 | 185 | 2011 Christchurch earthquake | Earthquake | 2011 | ![]() |
$40[23] | $45 | 1,700 | 2022 Pakistan floods | Flood | 2022 | ![]() |
$38[11] | $54 | 214 | Hurricane Ike | Tropical cyclone | 2008 | North America (![]() ![]() ![]() |
$32[24][25] | $38 | 278[26] | 2020 China floods | Flood | 2020 | ![]() |
$28[27][28] | $45 | 68 | 2004 Chūetsu earthquake | Earthquake | 2004 | ![]() |
$27.4[11] | $43 | 87 | Hurricane Wilma | Tropical cyclone | 2005 | North America (![]() ![]() ![]() |
$27.3[11] | $59.3 | 65 | Hurricane Andrew | Tropical cyclone | 1992 | ![]() |
$26.5[29] | $26.5 | 237[30][31][32][33] | February 13–17, 2021 North American winter storm | Winter storm, Infrastructure failure (electric) | 2021 | North America (![]() ![]() ![]() |
$26.1[11] | $42.1 | 124 | Hurricane Ivan | Tropical cyclone | 2004 | North America (![]() ![]() ![]() |
$25.1[34] | $30.5 | 74 | Hurricane Michael | Tropical cyclone | 2018 | North America (![]() ![]() ![]() |
$24.0[19] | $29.1 | 103 | 2018 California wildfires | Wildfire | 2018 | ![]() |
$21.8 – $135[35] | $37.5 – $232.3 | 2,996 | September 11 terrorist attacks | Terror attack | 2001 | ![]() |
$21.1 [36] | $22 | 4,361-20,000 | Storm Daniel | Tropical cyclone, dam failure | 2023 | ![]() ![]() |
$19.2 | $32.5 | 110 | 2002 European floods | Flood | 2002 | Central Europe (![]() ![]() ![]() |
$19.1[24][37] | $22.5 | 77 | Hurricane Laura | Tropical cyclone | 2020 | North America (![]() ![]() ![]() |
$18.6 (official estimated)[citation needed] | $20.9 | 398 (official confirmed) | 2021 Henan floods | Flood | 2021 | ![]() |
$18.5[11] | $28.9 | 97 – 125 | Hurricane Rita | Tropical cyclone | 2005 | ![]() |
$17.9 (official estimated)[citation needed] | $21.3 | 108 (official confirmed) | Typhoon Hagibis | Tropical cyclone | 2019 | ![]() |
17.6 (estimated) [38] | 17.6 (2024) | 241 | 2024 Noto earthquake | Earthquake | 2024 | ![]() |
$17.6[39] | $32.2 | 140 | Cyclone Lothar | European windstorm | 1999 | Western Europe (![]() ![]() ![]() |
$16.9[11] | $27.3 | 35 | Hurricane Charley | Tropical cyclone | 2004 | North America (![]() ![]() ![]() |
$16.0[40] | $22.7 | 308 | 2009 L'Aquila earthquake | Earthquake | 2009 | ![]() |
$16.0[41] | $17 | ≥49 | Hurricane Otis | Tropical cyclone | 2023 | ![]() |
$15.8[42] | $21 | 27 | 2012 Northern Italy earthquakes | Earthquake | 2012 | ![]() |
$15.1[43][44] | $19.2 | 603 | Hurricane Matthew | Tropical cyclone | 2016 | North America (![]() ![]() ![]() |
$15 – $20[45] | $31.6 – $42.2 | 47 | Great Flood of 1993 | Flood | 1993 | ![]() |
$15.0[46] | $35 | 197 | Cyclones Daria, Vivian, and Wiebke | European windstorm | 1990 | Western Europe (![]() ![]() ![]() |
$15[1] | $24.2 | 230,000 – 280,000 | 2004 Indian Ocean earthquake and tsunami | Earthquake, Tsunami | 2004 | Southeast Asia (![]() ![]() ![]() |
$15.0[47][48] | $18.6 | 44 | October 2017 Northern California wildfires | Wildfire | 2017 | ![]() |
$15 – $30[49] | $21 – $41.9 | 525 | 2010 Chile earthquake | Earthquake | 2010 | ![]() |
$14.2[11] | $19.2 | 58 | Hurricane Irene | Tropical cyclone | 2011 | North America (![]() ![]() ![]() |
$13 – $14[50][24] | $15.3 – $16.5 | 128[51] | Cyclone Amphan | Tropical cyclone | 2020 | Eastern South Asia (![]() ![]() ![]() |
$12.9[52] | $18.3 | 138,366 | Cyclone Nargis | Tropical cyclone | 2008 | ![]() |
$12.7[53] | $16.3 | 130 | November 2015 Paris attacks | Terror attack | 2015 | ![]() |
$11.6 – $18.9[54] | $21.2 – $34.6 | 17,118 – 17,127 | 1999 İzmit earthquake | Earthquake | 1999 | ![]() |
$11.5[55] | $13.5 | 4[55] | August 2020 Midwest derecho | Severe thunderstorm | 2020 | ![]() |
$10.4[56] | $13.6 | 12 | Typhoon Fitow | Tropical cyclone | 2013 | ![]() |
$10.2[19] | $13.8 | 348 | 2011 Super Outbreak | Tornado | 2011 | ![]() |
$10 – $15[57] | $11.8 – $17.7 | 204 - 218[58][59] | 2020 Beirut explosion | Explosion | 2020 | ![]() |
$10 – $15[60] | $12.7 – $19 | 13 | 2016 Louisiana floods | Flood | 2016 | ![]() |
$10[19] | $37 | 1,700 – 10,000 | 1980 United States heat wave | Drought | 1980 | ![]() |
$10[61] | $22.4 | 64 | Typhoon Mireille | Tropical cyclone | 1991 | ![]() |
$10[62] | $12.9 | 8,964 | April 2015 Nepal earthquake | Earthquake | 2015 | ![]() |
$10[46] | $14.7 | 44 | Cyclone Kyrill | European windstorm | 2007 | Western Europe (![]() ![]() ![]() |
$10[19] | $14.2 | 16 | June 2008 Midwest floods | Flood | 2008 | ![]() |
$9.86 (official estimated)[citation needed] | $11.8 | 238 (official confirmed) | 2018 Japan floods | Flood | 2018 | ![]() |
$9.8[11][63][64][65] | $15.8 | 50 | Hurricane Frances | Tropical cyclone | 2004 | North America (![]() ![]() |
$9.5[11] | $23.4 | 60 | Hurricane Hugo | Tropical cyclone | 1989 | North America (![]() ![]() ![]() |
$9.5[66][67] | $12.1 | 2 | 2016 Fort McMurray wildfire | Wildfire | 2016 | ![]() |
$9.4[11] | $17.6 | 604 | Hurricane Georges | Tropical cyclone | 1998 | North America (![]() ![]() ![]() |
$9[68] | $14.5 | 28 | Typhoon Songda | Tropical cyclone | 2004 | ![]() |
$8.5[11] | $14.6 | 55 | Tropical Storm Allison | Tropical cyclone | 2001 | ![]() |
$8.4[69] | $8.4 | 11 | Cyclone Gabrielle | Tropical cyclone | 2023 | ![]() |
$8.3[11] | $11.7 | 153 | Hurricane Gustav | Tropical cyclone | 2008 | North America (![]() ![]() ![]() |
$8.1 – $14[70][71] | $11.3 – $19.6 | 100,000 – 220,000 | 2010 Haiti earthquake | Earthquake | 2010 | ![]() |
$7.9[11] | $12.7 | 3,035 | Hurricane Jeanne | Tropical cyclone | 2004 | North America (![]() ![]() ![]() |
$7.9[24] | $9.3 | 211 | Hurricane Eta | Tropical cyclone | 2020 | North America (![]() ![]() ![]() |
$7.3[55] | $8.6 | 5[55] | Hurricane Sally | Tropical cyclone | 2020 | ![]() |
$7.13[72] | $9.2 | 196 | Typhoon Rammasun | Tropical cyclone | 2014 | Southeast Asia (![]() ![]() ![]() |
$7[73] | $17.2 | 0 | Exxon Valdez oil spill | Contamination (Oil) | 1989 | North America (![]() ![]() |
$6.5[11] | $11.9 | 74 | Hurricane Floyd | Tropical cyclone | 1999 | North America (![]() ![]() ![]() |
$6.4[74] | $10.6 | 7 | Space Shuttle Columbia disaster | Space flight accident | 2003 | ![]() |
$6.2[75] | $7.7 | 630 | 2017 Iran–Iraq earthquake | Earthquake | 2017 | ![]() ![]() |
$6.2[76] | $8.8 | 789 | Typhoon Morakot | Tropical cyclone | 2009 | Southeast Asia (![]() ![]() ![]() |
$6.3[16] | $8.9 | 173 | Black Saturday bushfires | Wildfire | 2009 | ![]() |
$6.1[11] | $11.4 | 11,374+ | Hurricane Mitch | Tropical cyclone | 1998 | North America (![]() ![]() ![]() |
$6.1[46] | $8.5 | 75 | Cyclone Xynthia | European windstorm | 2010 | Western Europe (![]() ![]() ![]() |
$6[77] | $10.6 | 75 | Typhoon Prapiroon | Tropical cyclone | 2000 | Northeast Asia (![]() ![]() ![]() |
$6[78] | $9.9 | 11 | Northeast blackout of 2003 | Infrastructure failure (electric) | 2003 | ![]() ![]() |
$6[46] | $8.5 | 26 | Cyclone Klaus | European windstorm | 2009 | Southeastern Europe (![]() ![]() ![]() |
$6[79] | $7.8 | 5 | 2013 Alberta floods | Flood | 2013 | ![]() |
$5.5[46] | $8.6 | 24 | Cyclone Gudrun | European windstorm | 2005 | North Europe (![]() ![]() ![]() |
$5.5[11] | $9.1 | 51 | Hurricane Isabel | Tropical cyclone | 2003 | ![]() |
$5.5[80] | $11.6 | 270[80] | 1993 Storm of the Century | Winter storm | 1993 | ![]() |
$5.2[81] | $8.1 | 86,000 – 87,351 | 2005 Kashmir earthquake | Earthquake | 2005 | ![]() ![]() |
$5.1[82][83][84] | $6.1 | 84[83][84] | Hurricane Dorian | Tropical cyclone | 2019 | North America (![]() ![]() ![]() |
$5[85] | $14.2 | 10,000 – 35,000 | 1985 Mexico City earthquake | Earthquake | 1985 | ![]() |
$5[86] | $9.7 | 284 – 590 | Typhoon Herb | Tropical cyclone | 1996 | East Asia (![]() ![]() ![]() |
$5[87] | $6 | 5[87] | Tropical Storm Imelda | Tropical cyclone | 2019 | ![]() |
$4.7[11] | $9.4 | 63 | Hurricane Opal | Tropical cyclone | 1995 | North America (![]() ![]() ![]() |
$4.6[88][89][90] | $6 | 6,329 – 7,403 | Typhoon Haiyan | Tropical cyclone | 2013 | Southeast Asia (![]() ![]() ![]() |
$4.4[91] | $6.5 | 78 | Cyclone Gonu | Tropical cyclone | 2007 | ![]() |
$4.2[92] | $5.5 | 123 | Hurricane Manuel | Tropical cyclone | 2013 | ![]() |
$4.1[19] | $6.8 | 42 | Tornado outbreak sequence of May 2003 | Tornado | 2003 | ![]() |
$4[46] | $10.7 | 22 | Great Storm of 1987 | European windstorm | 1987 | Western Europe (![]() ![]() ![]() |
$3.9[93] | $4.4 | 90 | Tornado outbreak of December 10–11, 2021 | Tornado | 2021 | ![]() |
$3.6[94] | $4.9 | 7 | Cyclone Yasi | Tropical cyclone | 2011 | ![]() |
$3.2[95] | $8.9 | 7[96] | Space Shuttle Challenger disaster | Space flight accident | 1986 | ![]() |
$3.1[11] | $6.7 | 6 | Hurricane Iniki | Tropical cyclone | 1992 | ![]() |
$3.0[11] | $7.7 | 318 | Hurricane Gilbert | Tropical cyclone | 1988 | North America (![]() ![]() ![]() |
$2.9[19] | $3.8 | 22 | June 2012 North American derecho | Severe storm | 2012 | ![]() |
$2.9[19] | $3.5 | 3 | 2019 Midwestern U.S. floods | Flood | 2019 | ![]() |
$2.8[97] | $3.8 | 158 | 2011 Joplin tornado | Tornado | 2011 | ![]() |
$2.68[98] | $4.6 | 29 | AZF chemical plant explosion | Explosion | 2001 | ![]() |
$2.5[19] | $3 | 8 | Tornado outbreak sequence of May 2019 | Tornado | 2019 | ![]() |
$2.5[19] | $3.1 | 2 | 2017 Montana wildfires | Drought, Wildfire | 2017 | ![]() |
$2.5[19] | $3.1 | 0 | 2017 Minneapolis hailstorm | Hailstorm | 2017 | ![]() |
$2.2[19] | $2.7 | 0 | 2017 Denver hailstorm | Hailstorm | 2017 | ![]() |
$2.1[19] | $2.6 | 0 | Tornado outbreak of March 6–7, 2017 | Tornado | 2017 | ![]() |
$2[99] | $2.7 | 33 | Costa Concordia disaster | Maritime disaster | 2012 | ![]() |
$2 – $4[100] | $2.5 – $5 | 370 | 2017 Central Mexico earthquake | Earthquake | 2017 | ![]() |
$1.8[101] | $2.4 | 36[101] | 2011 Groundhog Day blizzard | Winter storm | 2011 | North America (![]() ![]() ![]() |
$1.7[102] | $5.8 | 165 | Piper Alpha explosion | Explosion (oil rig) | 1988 | ![]() |
$1.4[103] | $1.8 | 44 | Cyclone Winston | Tropical cyclone | 2016 | ![]() |
$1.3[104] | $1.5 | 1 | 2021 Fukushima earthquake | Earthquake | 2021 | ![]() |
$1.24 – $2[105] | $2.1 – $3.3 | 15 | Cedar Fire | Wildfire | 2003 | ![]() |
$1.2 – $1.4[106][24][107] | $1.4 – $1.6 | 0 | 2020 Calgary hailstorm | Hailstorm | 2020 | ![]() |
$1.1[108] | $1.5 | 1,901 | Typhoon Bopha | Tropical cyclone | 2012 | ![]() |
$1.1[109] | $4.6 | 0 | Three Mile Island accident | Contamination (Radiation) | 1979 | ![]() |
$1.07 (official estimated)[citation needed] | $11.2 | 5,098 (official confirmed) | Typhoon Vera | Tropical cyclone | 1959 | ![]() |
$1[110] | $1.4 | 921 | Typhoon Ketsana | Tropical cyclone | 2009 | Southeast Asia (![]() ![]() ![]() ![]() |
$1[111] | $2.8 | 22,540 | Armero tragedy | Volcano | 1985 | ![]() |
$1 | $1.1 | 98 | Surfside condominium collapse | Structure failure | 2021 | ![]() |
Under $1 billion
This table lists notable disasters which are estimated to have an economic cost of less than 1 billion United States dollars without taking inflation into account. This includes historical disasters, such as the Great Chicago Fire, which would surpass the value of $1 billion in modern currency.
Note: All damage figures are listed in millions of United States dollars.
Cost | Fatalities | Event | Type | Year | Nation | |
---|---|---|---|---|---|---|
$Million | $Million (2023) | |||||
$922[112] | $1171 | 14 | 2016 Great Smoky Mountains wildfires | Wildfire | 2016 | ![]() |
$910 (official estimated)[citation needed] | $1104 | 5007 (official confirmed) | 2018 Sulawesi earthquake and tsunami | Earthquake and tsunami | 2018 | ![]() |
$500 – $600[113] | $3089 – $3707 | 71 | Cyclone Tracy | Tropical cyclone | 1974 | ![]() |
$700[114] | $1566 | 800 | 1991 Mount Pinatubo eruption | Volcano | 1991 | ![]() |
$700[115] | $948 | 1 | 2011 Slave Lake wildfire | Wildfire | 2011 | ![]() |
$483[116][117][118] - $543[119] | $710 - 798 | 13 | I-35W Mississippi River Bridge collapse | Structure failure | 2007 | ![]() |
$370[120] | $719 | 0 | Ariane 5 Flight 501 | Space flight accident | 1996 | ![]() |
$350[121] | $1760 | 1 | New York City blackout of 1977 | Infrastructure failure (electric) | 1977 | ![]() |
$328[122] | $600 | 0 | Mars Climate Orbiter & Mars Polar Lander | Space flight accident | 1999 | ![]() |
$273[123] | $347 | 0 | Hitomi breakup | Space flight accident | 2016 | ![]() |
$222[124] | $5646 | 300 | Great Chicago Fire | Fire | 1871 | ![]() |
$118[125] | $184 | 0 | CryoSat-1 | Space flight accident | 2005 | ![]() |
$25[126][127] | $789.3 | 1,490 – 1,635 | Sinking of the Titanic | Shipwreck | 1912 | ![]() |
$18.1[128] | $182 | 0 | Mariner 1 | Space flight accident | 1962 | ![]() |
References
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- ^ Andrew Weber (July 14, 2021). "Texas Winter Storm Death Toll Goes Up To 210, Including 43 Deaths In Harris County". Houston Public Media. Retrieved September 8, 2021.
- ^ Jan Wesner Childs (February 18, 2021). "Houston Faces Dire Water Issues as Power Outages, Cold Push Texans To Their Limits". weather.com. The Weather Company. Retrieved September 8, 2021.
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{{cite web}}
: CS1 maint: multiple names: authors list (link) - ^ "Libya Hurricane Daniel: Situation Report 2 - 27/09/2023 - Libya | ReliefWeb". 28 September 2023.
- ^ Adam.Smith@noaa.gov. "Billion-Dollar Weather and Climate Disasters: Events | National Centers for Environmental Information (NCEI)". www.ncdc.noaa.gov. Retrieved 2021-01-16.
- ^ https://www.asahi.com/sp/ajw/articles/15131514
- ^ "Looking Back, Looking Forward: Anatol, Lothar and Martin Ten Years Later".
- ^ Contreras, Diana; Forino, Giuseppe; Blaschke, Thomas (2018). "Measuring the progress of a recovery process after an earthquake: The case of L'aquila, Italy". International Journal of Disaster Risk Reduction. 28: 450–464. Bibcode:2018IJDRR..28..450C. doi:10.1016/j.ijdrr.2017.09.048. S2CID 133809860.
- ^ https://www.usnews.com/news/world/articles/2023-10-26/mexico-clears-up-wreckage-of-hurricane-otis-counts-cost-of-damage#:~:text=The%20government%20has%20so%20far%20not%20estimated%20the,their%20damage%2C%20saw%20it%20%22likely%20approaching%20%2415%20billion.%22.
{{cite web}}
: Missing or empty|title=
(help) - ^ "Significant Earthquakes Full Search, sort by $Millions Damage, Date". www.ngdc.noaa.gov. Retrieved 2015-10-08.
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