What Natural Disasters Cost the World

What Natural Disasters Cost the World

A study by the UN Food and Agriculture Organization (FAO) recently found that, from 2003-013, natural disasters caused more than 1.1 million deaths and over $1.5 trillion in damage. These disasters also affected the lives of more than 2 billion people - roughly 30% of the world's total population! Natural disasters disproportionately affect developing countries. This trend undermines the affected countries' overall economic growth and development, as well as damaging local agricultural sectors. In the past three decades, experts have also found a rise in the frequency and severity of natural disasters, accompanied by increased global economic losses.

Sources: World Economic ForumBusiness Insider