Natural disasters can occur at the least expected time wiping away entire cities and the lives of millions. The damage caused by these hazards is immeasurable, but a calculation of the financial toll of such disasters will give us an insight into the impact of such dangerous events. Let us have a look at some of the most expensive natural disasters of the world-
1) Earthquake and tsunami, Japan
Cost: $235 billion (by the World Bank)
The world witnessed the most expensive and shocking natural disaster in history on March 11, 2011 when an earthquake of 9.0-magnitude struck off the coast near Sendai in Japan. The earthquake and the resulting Tsunami took away the lives of nearly 10, 000 people and the number of people missing were estimated to be around 13,262.While the World Bank said that the cost of damage is around $235 billion, the Japan government approximated it be around $309 billion. The collapsing of the Japan economy made everyone raise the question- How long will it take Japan to recover from the earthquake and the tsunami?
2) Kobe earthquake, Japan
Cost: $100 billion (by the World Bank)
Kobe earthquake, also called as Great Hanshin earthquake shook the southern part of Hyogo Prefecture of Japan on Jan. 17, 1995.One of the most deadly and violent calamity, Kobe earthquake, which was measured at 6. 8 magnitudes resulted in the loss of lives of more than 6,500 people. The disaster badly affected the region of Kobe, the second most populated and industrialized area in Japan and nearly 26, 000 people were injured following the hazard which lasted for duration of 20 seconds.
3) Hurricane Katrina, U.S
Cost: $81 billion total damage cost (by NOAA)
The Hurricane Katrina which made landfall on Aug, 2005 along the Gulf Cost was one of the worst disasters U.S ever experienced, which resulted in the death of nearly 1, 836 people. Many people were stuck in New Orelans for days without enough food, water and medical care. Moreover, there were more than thousands of people living in temporary accommodations in the areas of Mississippi and Louisiana even after five years since the disaster happened.
4) Northridge earthquake, California, U.S.
Cost: $42 billion (by NOAA)
The Northridge earthquake which occurred on Jan 17, 1994 resulted in a massive and critical damage throughout Los Angeles and the San Fernando Valley. The earthquake which had a magnitude of 6.9, lasted for duration of about 10-20 seconds and caused the death of more than 60 people and 5,000 were injured. According to a report by the Federal Emergency Management Agency around 25,000 people became homeless.
5) Sichuan earthquake, China
Cost: $29 billion (by the World Bank)
The Sichuan earthquake, also known as Wenchuan earthquake was a deadly natural disaster which happened in the year 2008, killing around 70, 000 people and it left more than 18, 000 missing. In this region almost 4 million people lived and the earthquake of magnitude 8.0 turned out to be a came tragedy; apart from that strong aftershocks exceeding magnitude 6 continued to hit the region even after months resulting in furthermore damages.