Economic Impact of Natural Disasters on Countries

Significance


As stated by the United Office for Disaster Risk Reduction(UNDRR), a disaster can be defined as “a serious disruption of the functioning of a community or society involving widespread human, material, economic, or environmental losses and impacts, which exceeds the ability of the affected community or society to cope with using its resources”.
Natural disasters include floods, earthquakes, landslides, tsunamis, volcanic eruptions, drought, avalanches, wildfires etc. The natural disasters cause huge losses to the nations in terms of loss of lives, physical loss, economic loss etc.
Some of the major natural disasters hits the world countries were Tohaku earthquake/Tsunami in Japan(2011), Atlantic Hurricane season in US(2005), Kobe earthquake in Japan(1995), Sichuan earthquake in China(2008), Drought in USA(1988), Hurricane Sandy in US(2012), Irpine earthquake in Italy(1980), floods in Thailand(2011) and floods in Kerala, India(2018,2019) and so on.
The study will focus on the natural disasters affected in different countries, its frequency and losses. The study also focusing on the economic impact of these natural disasters on the nations. It also discussing on the measures and policies taken by each nation to overcome the aftereffects of natural disasters.

Background Materials


Research papers, articles from various sources are used as background material. Around 38 articles are reviewed. These articles related to:

  1. Natural disasters in various countries
  2. Economic impact of natural disasters
  3. Disaster management authorities
  4. Measures and policies by various governments
  5. Role of social workers in disaster management

Purpose statement


Natural disasters are always occurring world widely. It adversely affects in many countries. The number of natural disasters recorded has been on the rise in recent years. The information from EM-DAT 2019 states that between the period 1980-2018 there are 11,178 geophysical and hydro-meteorological disasters been recorded. It causes huge loss socially as well as economically. It damages the asset of countries such as buildings, properties and by reduces the production capacity. Major natural disasters can have severe negative short-run economic impacts.
The report will be organized in the most appropriate way to support the purpose of the study