What happened to the economy after the 2004 tsunami?

What were the after effects of the 2004 tsunami?

Social impacts of the tsunami (effects on people)

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. 1,500 villages destroyed in northern Sumatra.

What do tsunamis do to the economy?

Example of an Economic Tsunami

Unexpectedly high default rates led to large financial losses in portfolios with high credit ratings, which triggered massive losses for highly leveraged investments made by financial institutions (FIs) and hedge funds.

What happens to the economy after a natural disaster?

The economic damage caused by disasters varies. Capital assets and infrastructure such as housing, schools, factories and equipment, roads, dams and bridges are lost. Human capital is depleted due to the loss of life, the loss of skilled workers and the destruction of education infrastructure that disrupts schooling.

How much money did it take to rebuild Japan after the tsunami?

Japan’s Tsunami and Nuclear Disaster Unleashed a $300 Billion Effort to Rebuild a Hinterland.

How does the Japan economy affect the global economy?

Having built its current prosperity and developed into the second-largest economy in the Free World through trade, Japan has to contribute to maintaining and strengthening the free trade system and world economic growth through balanced growth in trade.

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How much did it cost to rebuild after the 2004 tsunami?

How much money did it cost to rebuild after the 2004 tsunami? The disaster generated a massive aid and reconstruction program, with around 463 non-government organisations and agencies spending around $7.5 billion. This made post-tsunami Aceh one of the largest reconstruction projects in the developing world.

What does the government do after a tsunami?

After a tsunami

Recovery centres may provide a range of welfare services including financial assistance, personal support, organising temporary accommodation and providing information and referrals. Communities and people pull together after major natural disasters.

What are the social consequences of tsunamis?

If a tsunami strikes and people have been warned and evacuated, the number of deaths and injuries are low or even non-existent. In this case, buildings and other structures can be damaged or destroyed and, often, large areas of land become contaminated with sea water.