Economic Impact Of Natural Disasters Essay

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.

There are numerous points of view on resiliency, as non‑governmental associations (NGOs) perceive that individuals ' capacity to better withstand and recuperate from calamities is basic to maintaining improvement. NGOs, contributors and worldwide reaction groups are attempting to characterize resiliency in their terms. CRS characterizes resiliency as "the capacity of people, communities and institutions to advance integral human development in the face of shocks, cycles and trends" (2014, p.2). The vulnerable individuals themselves best characterize strength and resiliency. What vulnerable individuals accept helps most to their versatility limit is discriminating to current dialogs on resiliency. Contributors and NGOs may have their own meaning of the term; however, an understanding of what it really means to individuals looking to make their community resilient is crucial to outlining successful Disaster Risk Reduction (DRR) and recovery activities in development, risk reaction and catastrophe recuperation programs (CRS, 2014). The danger of not utilizing the

Hurricane Katrina was an excellent case study in the divide between society, the government, and the individual as well as the inability for big government and law enforcement to manage crisis. One event factor, only partially controlled by society, was the almost $100 billion and counting effect of Hurricane Katrina on the U.S. Economy. This figure is quite low, when one takes into account not just the repairs and reconstruction for the region, but the interruption of the Gulf oil supply, ruin of exports like grain, forestry in adjoining areas, hundreds of thousands left unemployed (fewer taxes into the government) as well as the huge economic impact the lack of tourism will have on the Louisiana economy (Reidy 2005; Cooper, 2007).

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.

Natural disaster currently has become a large part of US economy, from tornadoes, fire, floods and hurricanes. These natural disasters have lead to death of people but also a billion dollar damage to several cities or states. According to National center of Environmental Information, in 2015 there were at least ten weather disasters that lead to property damages exceeding one billion dollar across United States. The natural disasters are found in many ways, the one most famous is Hurricane Katrina and another Hurricane Sandy. These two hurricanes are Atlantic hurricanes, Hurricane Katrina hit the Southern States and Hurricane Sandy hit near Atlantic City affecting many eastern States. Although the two hurricanes have occurred in separate years, yet they have caused a lot of damage in large cities leaving thousands of people without home. Furthermore due to these natural disasters has questioned the government how to prepare for natural disaster in near future. The hurricane Katrina and Hurricane Sandy are both consider Natural disaster that has lead to heavy damages but one has more devastating effect than the other.

Natural disasters such as a tsunami, wildfire, hurricane, and an earthquake can destroy a home in a matter of minutes and even seconds. Everything they have paid and worked for is completely ruined or gone. Most people recover, but the ones that were already necessitous suffer because they now have to start from scratch when they already did not have an abundance of resources, to begin with. When a natural disaster has done damage to a huge percentage of people; it is hard to get the help they need because several people are in desperate need of assistance. Although some people may have support from their families, there's many that have nowhere to turn to. Also, Not being able to rebuild your home due to no insurance or not finding a way to relocate elsewhere can leave you with no choice but to stay anywhere they feel safe or find

People have a home but once the home is destroyed, there is no roof to stay under. Everything such as money and belongings will be all gone meaning everyone will have to start over. People would become greedy and criminal like since no one has anything left. If people see things that are valuable, people will fight and argue to win that valuable thing causing war leading to death. Everyone will starve because of hunger. No one will have the utensils and time to cook. If there were things to cook with, there will be no crops or animals left to cook/eat. In conclusion, natural disasters have a huge effect to the environment and people. War will start since everything would be extremely valuable, everyone will fight to get what they need and want.

In the United States, people who live in poverty are already one of the most vulnerable populations and it is this population that is heavily impacted by public policy relating to natural disasters. Often, public policies relating to disaster preparedness and recovery are not discussed until after a natural disaster takes place which is too late to do any good for the people affected and who are devastated almost beyond comprehension. The role of government in disaster preparedness and recovery became a “hot button” issue especially after Hurricane Katrina when the federal and local governments seemed to protect/help those who already had resources and not those with little to no resources. According to a Gallup Poll by Jones & Carroll (2005), forty-nine percent of respondents said that FEMA was most helpful to them while thirty-one percent of respondents said that nothing was helpful to them during recovery from Hurricane Katrina. This information indicates that there is a gap in services disaster relief policies and programs that needs to be filled.

Every emergency or disaster, from a small house fire to a hurricane that devastates entire communities, have a distinct cycle. This is

While natural disasters such as floods, drought and hurricanes are commonly thought to occur due to environmental forces such as weather, climate and tectonic movements; a deeper investigation into the ‘disaster’ displays other contributing forces. Human factors have a large, if not equal, contribution to the occurrance and outcome of such disasters (Pelling, 2001). As Pelling (2001) argues, there is both a physical and human dimension to ‘natural disasters’. The extent to which the natural occurrence of a physical process, such as a flood or earthquake, impacts on society is constructed by that society, creating a ‘disaster’ as measured by a

Natural disasters may be defined as natural catastrophes which cause great damage by disrupting the functioning of a society thus rendering the country incapable of coping through using its own resources as there is a need for outsider assistance in order to effectively preserve lives and the environment. Conversely, Natural hazards are natural phenomena that are potential threats to people within a society, structures or economic assets and may cause disaster. Natural disasters are inevitable and ubiquitous worldwide. Within the Caribbean, they are chiefly present in the forms of hurricanes, earthquakes, floods, droughts, and volcanoes. The great damages caused by natural disasters may be divided into three categories: social, economic

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.