Weather catastrophes caused economic losses of 329 billion U.S. dollars worldwide in 2021. Sudden cataclysmic disasters cause devastation on impact. Some weather and climate-related extreme events are storms, floods, heat waves, cold waves, droughts, and forest fires. Climate-related hazards pose risks to human health and can lead to substantial economic losses.
Global natural disaster economic loss
The economic damage caused by disasters varies based on geography and affects natural resources. Capital assets and infrastructure, along with the loss of life, disrupt the economic structure. In 2021, the economic loss due to natural disasters globally was about 343 billion U.S. dollars, and flooding generated the highest loss that year.
Billion-dollar natural disaster events in the United States
The United States experienced nearly two dozen billion-dollar disasters in 2021. At an economic loss of around 75 billion U.S. dollars, Hurricane Ida, a Category 4 storm that landed on the Louisiana coast in August, was the costliest.
Weather catastrophe economic losses globally from 2007 to 2021
(in billion U.S. dollars)
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Aon. (January 25, 2022). Weather catastrophe economic losses globally from 2007 to 2021 (in billion U.S. dollars) [Graph]. In Statista. Retrieved May 24, 2022, from https://www.statista.com/statistics/818411/weather-catastrophes-causing-economic-losses-globally/
Aon. "Weather catastrophe economic losses globally from 2007 to 2021 (in billion U.S. dollars)." Chart. January 25, 2022. Statista. Accessed May 24, 2022. https://www.statista.com/statistics/818411/weather-catastrophes-causing-economic-losses-globally/
Aon. (2022). Weather catastrophe economic losses globally from 2007 to 2021 (in billion U.S. dollars). Statista. Statista Inc.. Accessed: May 24, 2022. https://www.statista.com/statistics/818411/weather-catastrophes-causing-economic-losses-globally/
Aon. "Weather Catastrophe Economic Losses Globally from 2007 to 2021 (in Billion U.S. Dollars)." Statista, Statista Inc., 25 Jan 2022, https://www.statista.com/statistics/818411/weather-catastrophes-causing-economic-losses-globally/
Aon, Weather catastrophe economic losses globally from 2007 to 2021 (in billion U.S. dollars) Statista, https://www.statista.com/statistics/818411/weather-catastrophes-causing-economic-losses-globally/ (last visited May 24, 2022)
