Cost of global flooding

The nature is fighting back against the world economy. Global floods are causing more and more damage resulting in greater expenses for the governments. The specialists of the Organization for Economic Co-operation and Development (OECD) delivered the report on the projection of the greatest financial impacts of natural disasters that have occurred in the last 100 years. The costliest aftermaths are in Miami, New York, New Orleans, and the major cities of China and Japan. The experts estimated the damage in 136 coastal cities. According to them, the total amount swept by flood waters every year is estimated at $6 billion. However, taking into account global climate change, the yearly figure is seen to come in at $52 billion by 2050. It was three U.S. cities including Miami, New York, and New Orleans that bore the brunt of the natural hazards or 31% of total potential damage. China’s Guangzhou with its 41% tops the financial losses rating and is followed by Mumbai and Calcutta. Amsterdam is the most flood-safe city, while Vietnam’s Ho Chi Minh is seen as the most dangerous one. Russia’s Saint Petersburg was not included in the list as flooding caused by sea-level rise is not the threat for Russia, according to the country’s ecologists. There are floods caused by heavy prolonged rains, as a rule. Currently, the country’s Far East suffers from this type of flooding.