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Over the Past Decade Damage from Weather Events Has Grown More Costly

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Hurricane Ida, the fourth and to-date strongest storm of the 2021 Atlantic hurricane season, made its way to New York City, causing damage and loss of life after initially making landfall in the southeastern U.S., wreaking havoc in New Orleans.

Over the past decade, global economic losses from weather events like storms, floods, droughts and wildfires have grown more costly. During the first decade of the 21st century, there were only two years when weather disasters cost more than $200 billion (including 2010). In the second decade, those $200 billion-dollar-a-year losses seem to have become more normal, with seven out of ten years grossing over $200 billion in global losses from weather events. The costliest year on record was registered in 2017, totaling over $470 billion in losses, including those from major Hurricanes Harvey, Maria and Irma. All in all, weather damages totaled approximately $2.5 trillion around the globe between 2011 and 2020, up almost 50 percent from the 2001-2010 figure.

Infographic: Weather Damage Grew More Costly in Past Decade | Statista

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