Global economic losses from natural disasters 2007-2021

In 2021, the economic loss due to natural disaster events worldwide amounted to about 343 billion U.S. dollars. Natural disasters occur as a result of natural processes on Earth. There are a lot of different types of natural disasters that can occur, including floods, hurricanes, earthquakes, and tsunamis.

Natural disasters in 2021

In 2021, the number of natural disaster events had decreased compared to the year before. Flooding generated the highest amount of economic loss that year. Devastatingly, in August 2021, the earthquake in Haiti caused the loss of 2,248 lives that year.

Asia hardest hit by natural disasters

A highly destructive force, Asia is one of the most susceptible regions to natural disasters. The repercussions of natural disasters are not only physical, they are also economic. There may be high costs, depending on the severity, required to rebuild an affected area after a natural disaster occurs. Lower income countries are more likely to be affected by natural disasters for a multitude of reasons. These reasons include a lack of developed infrastructure, inadequate housing, and lack of back-resources.