List of disasters by cost
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]
Over $1 billion
This table lists disasters which are estimated to have an economic cost of at least 1 billion United States dollars without taking inflation into account.
List of disasters by cost
Cost ($billion)
Fatalities
Event
Type
Year
Nation(s)
Actual
Inflated to (2023 unless otherwise stated)
$700[2]
$900
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 (
, , , others)
$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)
260
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)
171
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
Under $1 billion
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 .
References
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