Natural disasters have cost the global economy more than $2 trillion over the past decade. The economic consequences of climate change are comparable to the 2008 global crisis, Axios reports.
Author:
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The report by the consulting firm Oxera, prepared for the COP29 climate summit in Azerbaijan, includes statistics on 4 thousand events that occurred in 2014-2023 and affected 1.6 billion people.
In the last two years alone, global economic losses amounted to $451 billion, 19% more than in the previous ten years.
The United States suffered the greatest damage ($934.7 billion), followed by China ($267.9 billion) and India ($112 billion).
In per capita terms, the French part of the island of Saint-Martin took first place in the anti-rating ranking (5.1 million dollars or 158.9 thousand dollars for each of the 32 inhabitants).
According to the report, developing countries can be particularly affected by isolated natural disasters, the economic damage of which often exceeds the annual GDP.
Author:
Elena Likhanova
Source: RB
I am a professional journalist and content creator with extensive experience writing for news websites. I currently work as an author at Gadget Onus, where I specialize in covering hot news topics. My written pieces have been published on some of the biggest media outlets around the world, including The Guardian and BBC News.
