How do earthquakes affect the economy?
How do earthquakes affect the economy?
The economic damage of these quakes was anywhere between $2 million and $232 billion. This number only included direct costs i.e. the costs directly tied to the earthquake not including loss of jobs or other industry related losses.
Why was Kashmir earthquake so devastating?
K2 has an elevation of more than 28,250 feet. Kashmir is located at the juncture of the Eurasian and Indian tectonic plates—the collision of which caused the formation of the Himalaya Mountains—making it prone to intense seismic activity. The 2005 earthquake was among the worst to ever hit the region.
What were the impacts of the Kashmir earthquake in 2005?
On 8 October 2005, a devastating magnitude-7.6 earthquake struck the Kashmir region in the Himalaya. It killed more than 80,000 people, injured more than 100,000, and left 3 million homeless. One of the worst natural disasters in South Asia, the earthquake caused thousands of landslides that buried entire villages.
How much economic damage do earthquakes cause?
On September 20, the Federal Emergency Management Agency (FEMA) reported that earthquake losses in the United States add up to about $4.4 billion dollars annually. This study was based on a new methodology to estimate earthquake risk and future losses by geographic area.
What are economic and social impacts of earthquakes?
Earthquakes cause damage to buildings, transportation networks, infrastructure systems and critical facilities, such as hospitals and fire stations. This physical damage produces a range of social and economic impacts. Therefore, better models of social and economic impacts are needed.
What was the economic impact of the Kashmir earthquake?
Then, when winter struck, 2.3 million were left with no water or food, creating huge problems for Pakistan. The Kashmir earthquake surprisingly did not have a large economic impact. The cost for the earthquake was only $5.2 billion United States Dollars (USD), a low amount for such a high magnitude (7.6) earthquake.
What was the size of the 2005 earthquake in Pakistan?
On October 8, 2005, at 8:50 a.m. local time, a magnitude Mw = 7.6 earthquake struck the Himalayan region of northern Pakistan and Kashmir.
What is the Indus-Kohistan seismic zone?
The re-sulting collision has fractured the Indian plate into several slices beneath the Kashmir Basin and is known as the Indus-Kohistan seismic zone (Seeber and Armbruster 1979). The earthquake occurred within the Hazara-Kashmir syntaxis of the Himalayan fold belt.
What was Pakistan’s deadliest earthquake?
The Kashmir earthquake was one of the deadliest to ever strike, and the death toll was estimated at 100,000 people. This was Pakistan’s deadliest earthquake, and created trouble for the nation.
