Assessment of the Economic Impact that the Natural Disaster May Have on the Countries of South East Asia

Tourism was a large part of the economy in many areas hit and with buildings destroyed and tourist having been killed the tourist industry took a big hit. This affected people’s ability to earn a living and an income to support their families. The fishing industry was also greatly affected with an estimated 100 000 fishing boats damaged or destroyed.

A natural disaster has the capability to cause large scale damage and destruction to an area. Seismic events have been known to alter landscapes and affect the livelihoods, health and development of communities. No two earthquake events are the same and the level of threat posed by an earthquake can vary due to both the human and physical factors of an area. The 2010 magnitude - 7.0 earthquake that occurred in Haiti is an example of where a natural disaster caused a previously vulnerable area to suffer tremendous loss and debilitating socio-economic impacts, to an already poverty-stricken nation.

55). This is because things like a small flood would effect croplands differently than an urban center. A crop my actually benefit from silt deposits but the New York Stock Exchange would not. However, when disasters increase in scale they almost always have a significant impact on the economy (World Bank & United Nations, 2010, p. 55). Unfortunately, even though these impacts may be short-term there are third order effects on the economy. After Hurricane Katrina many areas were completely abandoned but many more were bought by developers pushing out the lower income populations, completely changing the local economy. This also highlights the different effect that disasters have on different demographics. As an example, the economies of developing countries are effected more by disasters then those of developed nations (World Bank & United Nations, 2010, p. 56). Although this may be because of population density or lack of infrastructure, it shows that demographics as well as the disaster itself have influence over the impact on local economy and

natural disasters). Gallup et al. (2003, pp.41, 46) have estimated that natural disasters in Latin America over the last 30 years have cost up to $3.3 billion and in extreme disasters costs can reach 10 per cent of a country’s GDP. This, coupled with the fact that they suffer regularly from natural disasters due to their location, means that they find it harder to recover from them. The destruction of crops causes vast economic loss which cannot be regained as farmers rely on monoculture. Furthermore, many buildings in developing countries are often built from weak materials which causes mass destruction and costly re-construction which these countries cannot afford.

Adams and Kostel, the authors, discuss the causes of the disasters and ways to minimize the effects of these type of disasters. The authors use physical data to help readers visualize the..causes..In...text..it..states,.“Total losses exceeded $150 billion.” The authors use monetary data to show the devastating effects of the hurricane.

Economic and development of any area is always and always will be interrupted by disasters big and small. These disasters can have a big impact on the economy by destroying businesses, homes, and damage property. As disaster pose a challenge to up and coming or existing developments or communities there are ways to possibly help damage and lose such as not building in a flood zone and moving to higher elevation. Disasters can have an effect on families to.

The ability to rebuild after a natural disaster depends on the population strength and the government timely response to the disaster. The government’s response to natural

Natural disasters cause a lot of damage to the economies in Latin America when they happen. The damage can last for months, years or even decades. Natural disasters are hard for everyone, but it is even harder for Latin American countries to recover

Both human and economic cost of global hazards are increasing over time due to one reason, this reason is that global hazards are more frequent in the present day. Global hazards can be split into to groups hydrometeological or geophysical. Geophysical events have occurred at constant frequency throughout the ages as they are formed by tectonic or geological processes, which can’t be affected by human factors, an example of this type of event is an Earthquake or volcano. Where as on the other hand hydrometeological hazards are increasing as they are formed by hydrological or atmospheric processes, which are affected by human factors such as global warming, an example of this type of event, is a Flood or hurricane.

A disaster can hurt the economy in two ways. It can reduce supply, that is, it

It is hard to call the destruction lying in the wake of several natural disasters of 2017 anything but adverse. However, as early as 2008, some have stated these tragedies may hold a bright side. In fact, an entirely new field of study has surfaced; disaster economics. The New York Times writer Drake Bennett explored this in his article, Do natural disasters stimulate economic growth? Bennett stated that “some economists argue that despite the widespread destruction they leave behind… [disasters] can spur economic growth”(Bennett 2008) and went on to explore several historic examples. Horrible

When it comes to natural disasters we know people are going to be hurt and killed but what we don’t know is what type of people are affected by it the most. In the article, the author uses many examples of natural disasters that had a very high number Black African Americans death. Is no coincidence that in many of these disasters is the ones that are poor, black, minorities that are being affected. Is a misconception that racism and segregation have lessened it actually is being done in other methods that are not as obvious. The government is not making any effort if it involves poor black citizens why because there are no interests by the ones that are in power to do so. The U.S. has had many issues with African Americans from slavery to

Due to diverse geo-climatic conditions prevalent in different parts of the globe, different types of natural disasters like floods, droughts, earthquakes, cyclones, landslides, and volcanoes etc may strike according to the vulnerability of the area.

Turkey faces numerous natural disasters a year. The top three are earthquakes, floods, and landslides. Earthquakes have cost the economy over a billion dollars in the past decade. 66% of the country is located in active fault zones. On average, 950 die from earthquakes each year, and this is the 3rd highest rate in the world. Around 15% of the total disaster losses are caused by floods, and around 16% of total disaster losses are caused by landslides. Since there are so many natural disasters, an emergency project is created to help deal with these disasters. The Istanbul Seismic Risk Mitigation and Emergency Preparedness Project (ISMEP), was created over 10 years ago. Some of their goals include strengthening the capacity of emergency management and enhancing the development laws and building codes, so buildings are not as likely to be destroyed and people will be safer. Additionally, there are disaster management centers. On the European side of Turkey, HASDAL is there to provide security and safety for residents affected. The counterpart on the Asian side of Turkey is known as FSM KOZYATAGI. These centers are vital assets for the country in times of natural disaster (Erdurmus, n.d.). These natural disasters can have major impacts on the supply chain and can cause Turkey to lose millions in trade. For example, if a flood ruins the ports and surrounding areas, the goods cannot be received or sent from other countries. Since Turkey depends on their ports, this could be

Bangladesh is one of the largest deltas in the world which is highly Penetrable to Natural Disasters because of its Geographical location, Flat and low-lying landscape, Poverty, Population density, Illiteracy, Lack of Institutional setup etc. Similarly the Physical, Social as well as Economic states of Bangladesh are very typical to any of the most Penetrable countries to Natural Disasters in the world . The total land area is 147,570 sq. km. consists mostly of Floodplains (almost 80%) leaving major part of the country (with the exception of the north-western highlands) prone to flooding in the rainy season. Moreover, the adverse affects of Climate Change – especially High Temperature, Cyclones and Sea-level Rise, Storm Surges, Salinity Intrusion, Heavy Monsoon Downpours etc. has aggravated the overall Economic Development scenario of the country to a great extent.