EARTHQUAKE: ECONOMIC LOSS

(Earthquakes will affect the economy of a country depending upon the construct of the
society and country. If a country has prepared well over the years against a possible hazard
it is likely that the country will not be largely affected.)
Effects:
1. Earthquake can cause damages buildings, heritages, infrastructures, and even livelihoods.So, to
rebuild them it requires lots of money. So, the policy making of any country is more directed
towards ‘reconstruction’ rather than in development sectors, however, reconstruction also
requires a huge budget and manpower.
2. When infrastructures of a country is destroyed, the gross domestic product (GDP) also goes
down which in turn decreases the earning capacity of people.
3. Due to fear of earthquake and frequent aftershocks, there will be fear and anxiety in people for
months. So, people can’t go back to work. Industries, schools, colleges, service sectors all will be
closed for months, causing a huge loss in manpower and productivity within the community.

VOLCANIC ERUPTION: ECONOMIC LOSS

1. Volcanic eruptions affect the economy through the destruction inflicted upon the landscape
during an eruption: lahars and pyroclastic flows destroying bridges and homes, ash ruining crops
and water, lava flows overrunning communities.
2. Volcanic gases (sulfur dioxide, carbon dioxide, water and carbon monoxide) form a brown fog
that is caustic to most animals and plants. The sulfur dioxide, in particular, has caused many
crops to fail thanks to the production of sulfuric acid with the sulfur dioxide interacts with
water, creating an “acid rain” effect which can inflict millions of dollars of damage on the local
economy.
3. When Fujiyama last erupted just under 300 years ago – in December 1707 – ash rained down on
the city for two weeks, even though it lies 100 km away. If it were to erupt again, public life
would grind to a halt.

TSUNAMIS: ECONOMIC LOSS

1. Tsunamis can destroy entire buildings and can cause serious property damage. Many individuals
who live in an area hit by a tsunami lose everything they own, which leaves them homeless and
without resources in the initial aftermath. Some of the tsunami effects include leveling homes
down to their foundations and exposing bedrock. The rebuilding process is expensive, time-
consuming and psychologically tumultuous for people.
2. Daily life for individuals in a nation affected by a tsunami changes because of the damage the
disaster causes to the economy. Locations that were previously popular destinations for visitors
suffer depression as a result of lost tourism, with people staying away out of fear and during
reconstruction. Rebuilding after a tsunami puts a significant financial strain on governments as
well, resulting in an economic downturn that can affect entire regions of the world.
3. After a tsunami strikes, landscapes that previously constituted picturesque beaches or seaside
towns become a wasteland. In addition to the destruction of human construction, tsunamis
destroy vegetation such as trees, resulting in landslides and coastlines that slip into the sea as
deep root systems that previously held land in place get ripped out. These changes force human
inhabitants to rebuild in an entirely different way, redesigning their lifestyles and livelihoods
around an altered environment.