What are the economic impacts of a tsunami?

Immediately following a tsunami disaster, many businesses will be unable to trade because of destruction to premises, stock, machinery, facilities, transport networks, supplies and loss of staff. All sectors of the business community are likely to be affected, though to various degrees of severity (see Table 2).

What were the responses to the 2004 tsunami?

The aid response to the 2004 Indian Ocean tsunami was unprecedented for a natural disaster, with a colossal $6.25bn donated to a central UN relief fund assisting 14 countries. The series of tsunamis on 26 December 10 years ago killed more than 228,000 people and left more than 2 million people homeless.

What was the economic impact of the Boxing Day tsunami?

US $ 9.9 billion was originally estimated to be the value of economic, infrastuctural and human development losses. 5. Over 600,000 people in Aceh lost their livelihoods (in some cases only for a few months) including all those in the fishery sector and 30 percent of those in agriculture.

What was the social impact of the 2004 tsunami?

Social impacts of the tsunami (effects on people) 230 000 deaths. 1.7 million homeless. 5-6 million needing emergency aid, eg food and water. Threat of disease from mixing of fresh water, sewage and salt water.

What was an economic impact of the Indian Ocean tsunami?

In terms of the death toll and the number of displaced people, this was the worst natural disaster in recorded history in Indonesia, Sri Lanka and Thailand. The total economic cost of damage was estimated at US$ 9.4 billion. In Aceh the cost of damage (US$4.5billion), was almost equal to its GDP in the previous year.

How did the 2004 Indian Ocean tsunami affect the environment?

Most of the damage was to the coastal infrastructure, including harbours, destruction of coastal vegetation, and extensive sand erosion. Sea water intrusion into inland areas also affected soil fertility, causing many islands’ top soil to be washed away and increasing the salinity of the soil.

Who helped with the 2004 Indian Ocean tsunami?

In response to the 2004 Indian Ocean earthquake and tsunami, World Vision mounted its largest-ever relief response across five countries simultaneously — Indonesia, Sri Lanka, Thailand, India, and Myanmar — and raised more than $350 million.

What happened in the 2004 Indian Ocean tsunami?

On December 26, 2004, at 7:59 am local time, an undersea earthquake with a magnitude of 9.1 struck off the coast of the Indonesian island of Sumatra. The tsunami killed at least 225,000 people across a dozen countries, with Indonesia, Sri Lanka, India, Maldives, and Thailand sustaining massive damage.

Can you swim towards a tsunami?

Basically, no. Without even taking into account of the currents, won’t be able to dive under a tsunami unless you can hold your breath for ridiculous amounts of time.

How long did it take to recover from 2004 tsunami?

five years
The results of these efforts are remarkable. Within five years, individuals were back in homes they owned, often on their original land, in communities with new schools and in many cases improved infrastructure.

What was the economic impact of the 2004 tsunami?

It created a tsunami that expanded over the Indian Ocean and affected the coastal areas of many countries in Asia and Africa. Estimates of the economic and social impact of the disaster were undertaken under the leadership of the World Bank in Indonesia (1), Sri Lanka (2), Maldive Islands (3), and India (4).

Where was the epicenter of the tsunami in 2004?

The Economic Impact of the 26 December 2004 Earthquake and Indian Ocean Tsunami in Thailand. A powerful earthquake of magnitude 9.5 in the Richter scale, with epicenter located just off the Northern part of the island of Sumatra, occurred in the early hours of 26 December 2004.

How did the Indian Ocean earthquake affect the economy?

The central bank has estimated aid will more than balance any economic losses from the earthquake and tsunami. Their economy has been barely hit by the tsunami, but the government have decided to do the full reconstruction by themselves, instead of relying on the aid available.

When was the tsunami in the Indian Ocean?

On the morning of Sunday 26 December 2004, a severe earthquake in the ocean off the coast of Northern Sumatra caused tsunamis that devastated communities in neighbouring countries and other countries in the Indian Ocean. The earthquake measured 9.0 on the Richter scale; the world’s most severe in 40 years (Australian Government 2007).