Disasters can have high costs associated with responding to and recovering from them. This page lists the estimated economic costs of relatively recent disasters.
The costs of disasters vary considerably depending on a range of factors, such as the geographical location where they occur. When a large disaster occurs in a wealthy country, the financial damage may be large, but when a comparable disaster occurs in a poorer country, the actual financial damage may appear to be relatively small. This is in part due to the difficulty of measuring the financial damage in areas that lack insurance. For example, the 2004 Indian Ocean earthquake and tsunami, with a death toll of around 230,000 people, cost a 'mere' $15 billion, [1] whereas in the Deepwater Horizon oil spill, in which 11 people died, the damage was six times higher.
The most expensive disaster in human history is the Chernobyl disaster, costing an estimated $700 billion. [2] Chernobyl's circumstances make it a unique but particularly devastating situation that is unlikely to ever happen again. Estimations have only increased over time, with the recent figure coming from the release of new government data up to 2016. [2] Furthermore, the cost is expected to perpetually increase for several thousand years as cleanup operations and the economic impact of the Chernobyl Exclusion Zone continue indefinitely. [3] The most expensive natural disaster is the 2011 Tōhoku earthquake and tsunami, costing an estimated $360 billion. [4]
This table lists disasters which are estimated to have an economic cost of at least 1 billion United States dollars without taking inflation into account.
Cost ($billion) | Fatalities | Event | Type | Year | Nation(s) | |
---|---|---|---|---|---|---|
Actual | Inflated to (2023 unless otherwise stated) | |||||
$700 [2] | $1946 | 30-500 | Chernobyl disaster | Contamination (Radioactive) | 1986 | Soviet Union ( , ) |
$360 [5] [6] [4] | $488 | 19,759 | 2011 Tōhoku earthquake and tsunami + Fukushima nuclear disaster | Undersea Megathrust Earthquake, Tsunami, Contamination (Radioactive) | 2011 | Japan |
$200 [7] | $399.9 | 5,502 – 6,434 | Great Hanshin earthquake | Earthquake | 1995 | Japan |
$163.6 [8] [9] | $163.6 (2023) | 59,259 - 62,013 | 2023 Turkey–Syria earthquake | Earthquake | 2023 | West Asia ( Turkey, Syria) |
$148 [10] | $209 | 87,587 | 2008 Sichuan earthquake | Earthquake | 2008 | China |
$125 [11] | $195 | 1,245 – 1,836 | Hurricane Katrina | Tropical cyclone | 2005 | United States |
$125 [11] | $155 | 107 | Hurricane Harvey | Tropical cyclone | 2017 | United States |
$113 [11] | $127 | 161 | Hurricane Ian | Tropical cyclone | 2022 | North America ( , , , others) |
$105 [12] [13] | $124 | 6,511 | 2020 South Asian floods | Flood | 2020 | South Asia ( , , , others) |
$91.6 [11] | $114 | 3,057 – 8,498 [14] | Hurricane Maria | Tropical cyclone | 2017 | North America ( , , , others) |
$75 [15] | $84 | 107 | Hurricane Ida | Tropical cyclone | 2021 | North America ( , , , others) |
$70 [16] | $82 | 451 | 2019–20 Australian bushfire season | Wildfire | 2019-20 | Australia |
$68.7 [11] | $91 | 233 | Hurricane Sandy | Tropical cyclone | 2012 | North America ( , , , others) |
$64.8 [11] | $81 | 134 | Hurricane Irma | Tropical cyclone | 2017 | North America ( , , , others) |
$60 – $100 [17] | $84 – $140 | 11 | Deepwater Horizon oil spill | Contamination (Oil) | 2010 | United States |
$53.25 [18] | $131 | 5,000+ | 1988–1990 North American drought | Drought | 1988-89 | United States, Canada |
$49.6 – $56.1 [19] | $65 – $73 | 104 | 2012–2013 North American drought | Drought | 2012-13 | United States, Canada |
$49 [20] | $101 | 57 | 1994 Northridge earthquake | Earthquake | 1994 | United States |
$45.7 [21] | $62 | 815 | 2011 Thailand floods | Flood | 2011 | Thailand |
$40 [22] | $54 | 185 | 2011 Christchurch earthquake | Earthquake | 2011 | New Zealand |
$40 [23] | $45 | 1,700 | 2022 Pakistan floods | Flood | 2022 | Pakistan |
$38 [11] | $54 | 214 | Hurricane Ike | Tropical cyclone | 2008 | North America ( , , , others) |
$32 [24] [25] | $38 | 278 [26] | 2020 China floods | Flood | 2020 | China |
$28.4 [27] | $28.4 | 137 | Typhoon Doksuri | Tropical cyclone | 2023 | Southeast Asia ( |
$28 [28] [29] | $45 | 68 | 2004 Chūetsu earthquake | Earthquake | 2004 | Japan |
$27.4 [11] | $43 | 87 | Hurricane Wilma | Tropical cyclone | 2005 | North America ( , , , others) |
$27.3 [11] | $59.3 | 65 | Hurricane Andrew | Tropical cyclone | 1992 | United States |
$26.5 [30] | $26.5 | 237 [31] [32] [33] [34] | February 13–17, 2021 North American winter storm | Winter storm, Infrastructure failure (electric) | 2021 | North America ( , , ) |
$26.1 [11] | $42.1 | 124 | Hurricane Ivan | Tropical cyclone | 2004 | North America ( , , , others) |
$25.1 [35] | $30.5 | 74 | Hurricane Michael | Tropical cyclone | 2018 | North America ( , , , others) |
$24.0 [19] | $29.1 | 103 | 2018 California wildfires | Wildfire | 2018 | United States |
$21.8 – $135 [36] | $37.5 – $232.3 | 2,996 | September 11 terrorist attacks | Terror attack | 2001 | United States |
$21.1 [37] | $22 | 4,361-20,000 | Storm Daniel | Tropical cyclone, dam failure | 2023 | Libya, Greece |
$20 [38] | $74 | 4,900 | 1980 Irpinia earthquake | Earthquake | 1980 | Italy |
$19.2 | $32.5 | 110 | 2002 European floods | Flood | 2002 | Central Europe ( , , , others) |
$19.1 [24] [39] | $22.5 | 77 | Hurricane Laura | Tropical cyclone | 2020 | North America ( , , , others) |
$18.6 (official estimated) [ citation needed ] | $20.9 | 398 (official confirmed) | 2021 Henan floods | Flood | 2021 | China |
$18.5 [11] | $28.9 | 97 – 125 | Hurricane Rita | Tropical cyclone | 2005 | United States |
$17.9 (official estimated) [ citation needed ] | $21.3 | 108 (official confirmed) | Typhoon Hagibis | Tropical cyclone | 2019 | Japan |
$17.6 (estimated) [40] | $17.6 (2024) | 245 | 2024 Noto earthquake | Earthquake | 2024 | Japan |
$17.6 [41] | $32.2 | 140 | Cyclone Lothar | European windstorm | 1999 | Western Europe ( , , , others) |
$16.9 [11] | $27.3 | 35 | Hurricane Charley | Tropical cyclone | 2004 | North America ( , , ) |
$16.0 [42] | $22.7 | 308 | 2009 L'Aquila earthquake | Earthquake | 2009 | Italy |
$16.0 [43] | $17 | ≥49 | Hurricane Otis | Tropical cyclone | 2023 | Mexico |
$15.8 [44] | $21 | 27 | 2012 Northern Italy earthquakes | Earthquake | 2012 | Italy |
$15.1 [45] [46] | $19.2 | 603 | Hurricane Matthew | Tropical cyclone | 2016 | North America ( , , , others) |
$15 – $20 [47] | $31.6 – $42.2 | 47 | Great Flood of 1993 | Flood | 1993 | United States |
$15.0 [48] | $35 | 197 | Cyclones Daria, Vivian, and Wiebke | European windstorm | 1990 | Western Europe ( , , , others) |
$15 [1] | $24.2 | 230,000 – 280,000 | 2004 Indian Ocean earthquake and tsunami | Earthquake, Tsunami | 2004 | Southeast Asia ( , , , others) |
$15.0 [49] [50] | $18.6 | 44 | October 2017 Northern California wildfires | Wildfire | 2017 | United States |
$15 – $30 [51] | $21 – $41.9 | 525 | 2010 Chile earthquake | Earthquake | 2010 | Chile |
$14.2 [11] | $19.2 | 58 | Hurricane Irene | Tropical cyclone | 2011 | North America ( , , , others) |
$13 – $14 [52] [24] | $15.3 – $16.5 | 128 [53] | Cyclone Amphan | Tropical cyclone | 2020 | Eastern South Asia ( , , , others) |
$12.9 [54] | $18.3 | 138,366 | Cyclone Nargis | Tropical cyclone | 2008 | Myanmar |
$12.7 [55] | $16.3 | 130 | November 2015 Paris attacks | Terror attack | 2015 | France |
$11.6 – $18.9 [56] | $21.2 – $34.6 | 17,118 – 17,127 | 1999 İzmit earthquake | Earthquake | 1999 | Turkey |
$11.5 [57] | $13.5 | 4 [57] | August 2020 Midwest derecho | Severe thunderstorm | 2020 | United States |
$11 [58] | $11 (2023) | 17 | 2023 Emilia-Romagna floods | Flood | 2023 | Italy |
$10.4 [59] | $13.6 | 12 | Typhoon Fitow | Tropical cyclone | 2013 | China |
$10.2 [19] | $13.8 | 348 | 2011 Super Outbreak | Tornado | 2011 | United States |
$10 – $15 [60] | $11.8 – $17.7 | 204 - 218 [61] [62] | 2020 Beirut explosion | Explosion | 2020 | Lebanon |
$10 – $15 [63] | $12.7 – $19 | 13 | 2016 Louisiana floods | Flood | 2016 | United States |
$10 [19] | $37 | 1,700 – 10,000 | 1980 United States heat wave | Drought | 1980 | United States |
$10 [64] | $22.4 | 64 | Typhoon Mireille | Tropical cyclone | 1991 | Japan |
$10 [65] | $12.9 | 8,964 | April 2015 Nepal earthquake | Earthquake | 2015 | Nepal |
$10 [48] | $14.7 | 44 | Cyclone Kyrill | European windstorm | 2007 | Western Europe ( , , , others) |
$10 [19] | $14.2 | 16 | June 2008 Midwest floods | Flood | 2008 | United States |
$10 [19] | $53.5 | 242,419-655,000 | 1976 Tangshan earthquake | Earthquake | 1976 | China |
$9.86 (official estimated) [ citation needed ] | $11.8 | 238 (official confirmed) | 2018 Japan floods | Flood | 2018 | Japan |
$9.8 [11] [66] [67] [68] | $15.8 | 50 | Hurricane Frances | Tropical cyclone | 2004 | North America ( , ) |
$9.5 [11] | $23.4 | 60 | Hurricane Hugo | Tropical cyclone | 1989 | North America ( , , , others) |
$9.5 [69] [70] | $12.1 | 2 | 2016 Fort McMurray wildfire | Wildfire | 2016 | Canada |
$9.4 [11] | $17.6 | 604 | Hurricane Georges | Tropical cyclone | 1998 | North America ( , , , others) |
$9 [71] | $14.5 | 28 | Typhoon Songda | Tropical cyclone | 2004 | Japan |
$8.5 [11] | $14.6 | 55 | Tropical Storm Allison | Tropical cyclone | 2001 | United States |
$8.4 [72] | $8.4 | 11 | Cyclone Gabrielle | Tropical cyclone | 2023 | New Zealand |
$8.3 [11] | $11.7 | 153 | Hurricane Gustav | Tropical cyclone | 2008 | North America ( , , , others) |
$8.1 – $14 [73] [74] | $11.3 – $19.6 | 100,000 – 220,000 | 2010 Haiti earthquake | Earthquake | 2010 | Haiti |
$8 [75] | $18.7 | 45,000 | 1990 Manjil–Rudbar earthquake | Earthquake | 1990 | Iran |
$7.9 [11] | $12.7 | 3,035 | Hurricane Jeanne | Tropical cyclone | 2004 | North America ( , , , others) |
$7.9 [24] | $9.3 | 211 | Hurricane Eta | Tropical cyclone | 2020 | North America ( , , , others) |
$7.3 [57] | $8.6 | 5 [57] | Hurricane Sally | Tropical cyclone | 2020 | United States |
$7.13 [76] | $9.2 | 196 | Typhoon Rammasun | Tropical cyclone | 2014 | Southeast Asia ( , , , others) |
$7 [77] | $7 (2023) | 2,960 | 2023 Al Haouz earthquake | Earthquake | 2023 | Morocco |
$7 [78] | $17.2 | 0 | Exxon Valdez oil spill | Contamination (Oil) | 1989 | North America ( , ) |
$6.5 [11] | $11.9 | 74 | Hurricane Floyd | Tropical cyclone | 1999 | North America ( , , ) |
$6.4 [79] | $10.6 | 7 | Space Shuttle Columbia disaster | Space flight accident | 2003 | United States |
$6.2 [80] | $7.7 | 630 | 2017 Iran–Iraq earthquake | Earthquake | 2017 | Iran, Iraq |
$6.2 [81] | $8.8 | 789 | Typhoon Morakot | Tropical cyclone | 2009 | Southeast Asia ( , , , others) |
$6.3 [16] | $8.9 | 173 | Black Saturday bushfires | Wildfire | 2009 | Australia |
$6.1 [11] | $11.4 | 11,374+ | Hurricane Mitch | Tropical cyclone | 1998 | North America ( , , , others) |
$6.1 [48] | $8.5 | 75 | Cyclone Xynthia | European windstorm | 2010 | Western Europe ( , , , others) |
$6 [82] | $10.6 | 75 | Typhoon Prapiroon | Tropical cyclone | 2000 | Northeast Asia ( , , , others) |
$6 [83] | $9.9 | 11 | Northeast blackout of 2003 | Infrastructure failure (electric) | 2003 | United States, Canada |
$6 [48] | $8.5 | 26 | Cyclone Klaus | European windstorm | 2009 | Southeastern Europe ( , , , others) |
$6 [84] | $7.8 | 5 | 2013 Alberta floods | Flood | 2013 | Canada |
$5.5 [48] | $8.6 | 24 | Cyclone Gudrun | European windstorm | 2005 | North Europe ( , , , others) |
$5.5 [11] | $9.1 | 51 | Hurricane Isabel | Tropical cyclone | 2003 | United States |
$5.5 [85] | $11.6 | 270 [85] | 1993 Storm of the Century | Winter storm | 1993 | United States |
$5.2 [86] | $8.1 | 86,000 – 87,351 | 2005 Kashmir earthquake | Earthquake | 2005 | Pakistan, India |
$5.2 [87] | 19.2 | 5,000 | 1980 El Asnam earthquake | Earthquake | 1980 | Algeria |
$5.1 [88] [89] [90] | $6.1 | 84 [89] [90] | Hurricane Dorian | Tropical cyclone | 2019 | North America ( , , , others) |
$5 [91] | $14.2 | 10,000 – 35,000 | 1985 Mexico City earthquake | Earthquake | 1985 | Mexico |
$5 [92] | $9.7 | 284 – 590 | Typhoon Herb | Tropical cyclone | 1996 | East Asia ( , , ) |
$5 [93] | $6 | 5 [93] | Tropical Storm Imelda | Tropical cyclone | 2019 | United States |
$4.7 [11] | $9.4 | 63 | Hurricane Opal | Tropical cyclone | 1995 | North America ( , , , others) |
$4.6 [94] [95] [96] | $6 | 6,329 – 7,403 | Typhoon Haiyan | Tropical cyclone | 2013 | Southeast Asia ( , , , others) |
$4.5 [97] | $8.5 | 114 | 1997 Central European flood | Flood | 1997 | Central Europe |
$4.4 [98] | $6.5 | 78 | Cyclone Gonu | Tropical cyclone | 2007 | Oman |
$4.2 [99] | $5.5 | 123 | Hurricane Manuel | Tropical cyclone | 2013 | Mexico |
$4.1 [19] | $6.8 | 42 | Tornado outbreak sequence of May 2003 | Tornado | 2003 | United States |
$4 [48] | $10.7 | 22 | Great Storm of 1987 | European windstorm | 1987 | Western Europe ( , , , others) |
$3.9 [100] | $4.4 | 90 | Tornado outbreak of December 10–11, 2021 | Tornado | 2021 | United States |
$3.7 [101] | $3.7 (2024) | 166 | 2024 Rio Grande do Sul floods | Flood | 2024 | Brazil, Uruguay |
$3.6 [102] | $4.6 | 7 | Cyclone Yasi | Tropical cyclone | 2011 | Australia |
$3.2 [103] | $8.9 | 7 [104] | Space Shuttle Challenger disaster | Space flight accident | 1986 | United States |
$3.1 [11] | $6.7 | 6 | Hurricane Iniki | Tropical cyclone | 1992 | United States |
$3.0 [11] | $7.7 | 318 | Hurricane Gilbert | Tropical cyclone | 1988 | North America ( , , , others) |
$2.9 [19] | $3.8 | 22 | June 2012 North American derecho | Severe storm | 2012 | United States |
$2.9 [19] | $3.5 | 3 | 2019 Midwestern U.S. floods | Flood | 2019 | United States |
$2.8 [105] | $3.8 | 158 | 2011 Joplin tornado | Tornado | 2011 | United States |
$2.68 [106] | $4.6 | 29 | AZF chemical plant explosion | Explosion | 2001 | France |
$2.5 [19] | $3 | 8 | Tornado outbreak sequence of May 2019 | Tornado | 2019 | United States |
$2.5 [19] | $3.1 | 2 | 2017 Montana wildfires | Drought, Wildfire | 2017 | United States |
$2.5 [19] | $3.1 | 0 | 2017 Minneapolis hailstorm | Hailstorm | 2017 | United States |
$2.2 [19] | $2.7 | 0 | 2017 Denver hailstorm | Hailstorm | 2017 | United States |
$2.1 [19] | $2.6 | 0 | Tornado outbreak of March 6–7, 2017 | Tornado | 2017 | United States |
$2 [107] | $2.7 | 33 | Costa Concordia disaster | Maritime disaster | 2012 | Italy |
$2 – $4 [108] | $2.5 – $5 | 370 | 2017 Central Mexico earthquake | Earthquake | 2017 | Mexico |
$1.8 [109] | $2.4 | 36 [109] | 2011 Groundhog Day blizzard | Winter storm | 2011 | North America ( , , ) |
$1.7 [110] | $5.8 | 165 | Piper Alpha explosion | Explosion (oil rig) | 1988 | United Kingdom |
$1.4 [111] | $1.8 | 44 | Cyclone Winston | Tropical cyclone | 2016 | Fiji |
$1.3 [112] | $1.5 | 1 | 2021 Fukushima earthquake | Earthquake | 2021 | Japan |
$1.3 [113] | $2.7 | 9,748 | 1993 Latur earthquake | Earthquake | 1993 | India |
$1.24 – $2 [114] | $2.1 – $3.3 | 15 | Cedar Fire | Wildfire | 2003 | United States |
$1.2 – $1.4 [115] [24] [116] | $1.4 – $1.6 | 0 | 2020 Calgary hailstorm | Hailstorm | 2020 | Canada |
$1.1 [117] | $1.5 | 1,901 | Typhoon Bopha | Tropical cyclone | 2012 | Philippines |
$1.1 [118] | $4.6 | 0 | Three Mile Island accident | Contamination (Radiation) | 1979 | United States |
$1.08 (official estimated) [ citation needed ] | $1.4 | 173 (official confirmed) | 2015 Tianjin explosions | Explosion | 2015 | China |
$1.07 (official estimated) [ citation needed ] | $11.2 | 5,098 (official confirmed) | Typhoon Vera | Tropical cyclone | 1959 | Japan |
$1 [119] | $1.4 | 921 | Typhoon Ketsana | Tropical cyclone | 2009 | Southeast Asia ( , , , ) |
$1 [120] | $2.8 | 22,540 | Armero tragedy | Volcano | 1985 | Colombia |
$1 | $1.1 | 98 | Surfside condominium collapse | Structure failure | 2021 | United States |
$1 [121] | $4.7 | 50 | 1978 Thessaloniki earthquake | Earthquake | 1978 | Greece, Yugoslavia, Bulgaria |
This table lists notable disasters which are estimated to have an economic cost of less than 1 billion United States dollars without taking inflation into account. This includes historical disasters, such as the Great Chicago Fire, which would surpass the value of $1 billion in modern currency.
Note: All damage figures are listed in millions of United States dollars.
Cost | Fatalities | Event | Type | Year | Nation | |
---|---|---|---|---|---|---|
$Million | $Million (2023) | |||||
$922 [122] | $1171 | 14 | 2016 Great Smoky Mountains wildfires | Wildfire | 2016 | United States |
$910 (official estimated)[ citation needed ] | $1104 | 5007 (official confirmed) | 2018 Sulawesi earthquake and tsunami | Earthquake and tsunami | 2018 | Indonesia |
$500 – $600 [123] | $3089 – $3707 | 71 | Cyclone Tracy | Tropical cyclone | 1974 | Australia |
$700 [124] | $1566 | 800 | 1991 Mount Pinatubo eruption | Volcano | 1991 | Philippines |
$700 [125] | $948 | 1 | 2011 Slave Lake wildfire | Wildfire | 2011 | Canada |
$483 [126] [127] [128] - $543 [129] | $710 - 798 | 13 | I-35W Mississippi River Bridge collapse | Structure failure | 2007 | United States |
$370 [130] | $719 | 0 | Ariane 5 Flight 501 | Space flight accident | 1996 | French Guiana |
$350 [131] | $1760 | 1 | New York City blackout of 1977 | Infrastructure failure (electric) | 1977 | United States |
$328 [132] | $600 | 0 | Mars Climate Orbiter & Mars Polar Lander | Space flight accident | 1999 | United States |
$273 [133] | $347 | 0 | Hitomi breakup | Space flight accident | 2016 | Japan |
$222 [134] | $5646 | 300 | Great Chicago Fire | Fire | 1871 | United States |
$118 [135] | $184 | 0 | CryoSat-1 | Space flight accident | 2005 | Russia |
$25 [136] [137] | $789.3 | 1,490 – 1,635 | Sinking of the Titanic | Shipwreck | 1912 | United Kingdom |
$18.1 [138] | $182 | 0 | Mariner 1 | Space flight accident | 1962 | United States |
$? | $? | 0 | 526 Antioch earthquake | Earthquake | 526 | Turkey |
$? | $? | 0 | 1908 Messina earthquake | Earthquake and tsunami | 1908 | Italy |
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