Extreme weather in Australia – the economic effects : why we need to prepare for this

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Storm-o-nomics: Why Australia should be more prepared for extreme weather, The Conversation, By Matt Wade
February 9, 2019  Another Australian summer has been marked by disasters triggered by extreme weather. Some came out of the blue, like the Townsville floods. Others unfolded gradually, like the droughtafflicting much of eastern Australia.

But there’s one characteristic our natural disasters have in common: their high price tag when compared with the rest of the world.

The World Disasters Report 2018, prepared by the Red Cross, found Australia was ranked 10th in the world for the cost of damage caused by disasters between 2008 and 2017. It estimated our disaster damage bill over that decade to be a hefty $US27 billion ($38 billion).

A separate study by London-based charity Christian Aid rated Australia’s lingering drought as the world’s seventh most costly weather-related disaster of 2018 (between US$5.8 and $9 billion).

We’re also…

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