Economic estimates often vary significantly depending on what is actually measured direct versus indirect economic losses, or short-term versus longer-term losses that, from a macroeconomic perspective, can be partially offset by the significant post-disaster reconstruction activities. And rebuilding after Harvey, Irma, and Maria (HIM) will be very expensive our preliminary estimate is that it will cost around $200 billion-equivalent to the GDP of Portugal. The city of New Orleans has lost one-third of its population since Katrina. Recovery has started across affected areas, but if experience serves as a guide, it will take years to achieve normalcy-if that ever happens. In 2014, the US Census estimated thatĥ8 percent of Puerto Rico’s children lived below the federal poverty level. The poverty rate in Puerto Rico is higher than any of the 50 US states. The situation in Puerto Rico, however, has been challenging because of its current debt crisis, economic situation, and geographic location, which complicates delivering relief. Given the scale and destructive power of these hurricanes, emergency management on the US mainland has been remarkable on many levels. Then on September 20, Hurricane Maria hit Puerto Rico and several other islands, causing massive devastation and more deaths.īut 25 years after Andrew, 12 years after Katrina, and five years after Superstorm Sandy, the United States is better prepared for such catastrophes. In total, more than 160 people died as a result of the storms. While losses were less than expected in Florida, Harvey’s and Irma’s devastation will have a broad and enduring impact on how individuals, corporations, and governments think about and act upon extreme events. While most weather models predicted Irma would threaten Florida’s east coast, the hurricane eventually turned and instead hit the state’s west coast, which has a much lower concentration of population and assets. Two weeks after Harvey, Hurricane Irma swept through several Caribbean islands as a Category 5 storm, leaving behind destruction and casualties.
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