How did the 2004 Boxing Day tsunami affect the economy?

How did the 2004 Boxing Day tsunami affect the economy?

Ten people were reported killed, and flooding destroyed a major bridge between the capital Port Victoria and main airport. Also, the island reported devastating economic loss in millions of dollars due to hotels, housing, public utilities, and fishing damages. More than 300 deaths were reported and 5,000 displaced.

How much economic damage did the Boxing Day tsunami cause?

The Boxing Day tsunami of 2004 is the deadliest and most destructive tsunami in recorded history, claiming the lives of over 230,000 people in 14 different countries and damaging over 14 billion US dollars worth of property.

What were the environmental impacts of the Boxing Day tsunami?

Environmental impacts of the tsunami Farm land ruined by salt water. 8 million litres of oil escaped from oil plants in Indonesia. Mangrove forests along the coast were destroyed. Coral reefs and coastal wetlands damaged.

What is the economic impact of a tsunami?

Loss of income in the local economy and future losses from the destruction of infrastructure will be a problem for some time to come. The total financial cost of the tsunami could be millions or even billions of dollars of damage to coastal structures and habitats.

What is the economic impact of earthquakes?

Effects of an earthquake

Social impacts Economic impacts
Long-term impacts Disease may spread. People may have to be re-housed, sometimes in refugee camps. The cost of rebuilding a settlement is high. Investment in the area may be focused only on repairing the damage caused by the earthquake. Income could be lost.

What did the Boxing Day tsunami destroy?

Over 570,000 people were displaced and 179,000 buildings and homes destroyed in Indonesia as the wave swallowed large parts of the coastline. Massive reconstruction aid in Banda Aceh has since rebuilt a new city on top of the ruins.

What damage did the 2004 tsunami cause?

The Impacts An astonishing roughly quarter million people (227,899) were killed or missing and presumed dead, including tourists, making this the deadliest tsunami in history. About 1.7 million people were displaced. Total damage was estimated at roughly $13 billion (2017 dollars).

What caused Boxing Day tsunami?

What caused the Boxing Day tsunami in the Indian Ocean? A magnitude 9.3 earthquake occurred on the seafloor off the western coast of Sumatra. It ruptured over a 1200km section of a fault under the sea, causing a huge area of the sea floor to be raised . It spread out as a tsunami.

How did the 2004 tsunami affect the ocean?

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.

What is the economic cost of tsunami?

Large tsunamis do not happen often, but they pose a significant threat to coastal communities around the world. Globally, since the beginning of the twenty-first century, 48 tsunamis have caused roughly $300 billion (2018 dollars) in damage.

What impact did the 2004 tsunami have on the environment?

There were some environmental impact as an aftermath of the tsunami. In the affected region, crops were destroyed and farm land was ruined by the salt water. Many forest and trees such as mangrove forests along the coast were also destroyed. Coral reefs and coastal wetlands were damaged.

What are economic impacts in geography?

Economic impacts refer to how the management methods used will affect how people work. How will this affect jobs and income? Will the measure make people richer or poorer – will it have a positive or negative impact on their livelihood?