Risk Atlas Reveals Rising Natural Disaster Costs

The United States may have to grapple with the highest overall costs for natural disasters, but other emerging nations face other social and economic risks, according to a new report.

Released Wednesday by British risk analysis firm Maplecroft, the 2011 Natural Hazards Risk Atlas ranks 196 countries based on economic exposure to disasters including earthquakes, tsunamis and floods.

As the AFP is reporting, both the U.S. and Japan were deemed at “extreme risk” with regard to overall costs from a natural disaster, but emerging economies pose a greater risk to investors simply due to lack of capacity to combat environmental and social impacts.

“The emerging economies, although buoyant with growth, lack the socio-economic conditions to limit their disaster risk. This lack of resilience could threaten their economic growth and the extent to which businesses with operations there hope to flourish,” Maplecroft CEO Alyson Warhurst said in a press release.

So far, 2011′s natural hazards — from Japan’s devastating tsunami to the deadly tornadoes throughout much of the U.S. — have been more costly to the world economy than any other year on record, contributing to a massive $265 billion total for the first six months of the year, according to Maplecroft officials.

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Tags: floods, Japan Earthquake, Japan Tsunami, Joplin Tornado, Natural Disasters, Natural Resources, Pakistan Floods, World

Category: World