Natural disasters in Australia
Natural disasters are events that occur naturally such as earthquakes, cyclones, Storms, and floods. These kinds of disasters can cause significant physical damage, interruption of business services and personal injury/loss of life.
Due to the effects of global warming and consequential climate change the rate of natural disasters in Australia is increasing day by day.
I myself have faced such kind of natural disaster in Pakistan in the year 2012 which was a flood. So I can relate and describe how painful and how bad economically these disasters can be; destroying each and everything coming in its way.
There are two types of economic impacts due to natural disasters:
1. Direct Economic impact.
This includes lifelines such as water, sanitation system, gas, electricity, telecommunication and transportation which are vulnerable to all types of natural disasters which are included in public infrastructure and community facilities. Other than this business enterprise, households & residents are also part of direct impact.
2. Indirect economic impact.
Indirect economic impact includes disruption and clean up.
These impacts are incurred due to consequence of the disaster.
The Term Paper on The Social Economic And Legal Impact Resulting From EBusiness
This project is to investigate and analyse the social, economic and legal impact resulting from the adoption and growth of eBusiness. The project also investigated the web-based business of Rosenbluth and Dell. eBusiness is not just the buying and selling of goods and services it is also servicing customers, collaborating with business partners and conducting electronic transactions within an ...
Australia has always been facing these kinds of disasters which made a huge loss for Australia and a lot of time and money was spent to bring Australia back in its kind of original form. If we go through the history of Australia
we can read that from the year 1967 till 1999 there have been 265 such disasters costing more than $10 million dollars each. The total cost of most disasters is ranging from $10 to $50 million which is a huge amount. Among the entire disasters, floods were most common and most costly. Floods have always been on number one causing destruction on a high level, contributing $10.4 billion or 29 percent to the total cost followed by Storms and Cyclones making 26 and 24 percent of the total cost. The bushfire crisis in Victoria is Australia’s worst-ever bushfire disaster. It’s also Australia’s worst natural disaster in 110 years which so far has claimed 131 lives.
If we analyze the currently available data then we come up with a statement that total cost of natural disasters in Australia between the years 1967 and 1999 is approximately $36.4 billion, which is easy to say and hard to believe. If we integrate deaths and injuries into this data then the total cost increases to $37.8 billion or approximately $85 per person compared to prices in 1999. This estimation brings to an average annual total cost of natural disasters to $1.14 billion since 1967 or $1.17 since 1980 and $1.51 billion prices are subjected to year 1999.
An organization called “The Natural disaster Relief and Recover Arrangements (NDRRA) is an organization that provides Commonwealth and States which share costs in rebuilding the assets of states that are damaged by the natural disaster. By which the states are able to get a little part of the total cost from the Common wealth used in reconstructing state government assets.
Every state in Australia has some self-insurance or some form of managed fund which helps in insuring states assets. It is recommended by many that the formula used under “The Natural Disaster Relief and Recovery Arrangements” should be changed to expenditure method before the State or Territory gets any insurance recovery.
The Essay on Natural Resource Management In Australia
Adhering to the recent scenarios in Australian natural resource industry, where there is certain lack of adequate human resources to deal with such gigantic capital projects recently the country is dealing with, we have proposed some alternative solutions that can be considered by the concerned authorities while resolving this particular issue: •Make policies for effective management within ...
Natural disasters cause so much heavy burden on the economy of Australia that at some stage it becomes so hard for the government to deal with the outcomes of that disaster. There are many ways which can help the government getting over these disasters and make plans or organizations which can work on these disasters as these disasters are unavoidable part of Australia. Nothing much can be done besides what has always done on such events. Below are some ways that can help.
Low interest concessional loans should be given on large scale by the government to companies. Series of loan repayment should be increased to as maximum as possible. Flood premium discount should be given for existing homes but not for new homes. Every year some part of the Gross Domestic Product should be saved a side. Emergency relief assistance and emergency re-establishment assistance should be increased. Provide a carrier that has good reputation in claiming service.
1. Neil Gentle, Sharyn Kierce, Alistair Nitz, 2001 “Economic cost of natural disaster in Australia” Retrieved from “https://www.google.com.au/url sa=t&rct=j&q=&esrc=s&source=web&cd=1&cad=rja&ved=0CDAQFjAA&url=http%3A%2F%2Fwww.em.gov.au%2FDocuments%2FEconomic_costs_of_natural_disasters_in_Australia.pdf&ei=XO17UdX2FcaiigeT1oCYCQ&usg=AFQjCNE89LiWzBdi_zr3hvixQdXzkLYLBA&sig2=bVIuhvxRuq8ZUmgV1h7sYg&bvm=bv.45645796,d.dGI” on 18th April 2013.
2. Emergency Management Australia, 2002 “Economic and Financial aspects of Disaster Recovery” Retrieved from https://www.google.com.au/url?sa=t&rct=j&q=&esrc=s&source=web&cd=2&cad=rja&ved=0CDUQFjAB&url=http%3A%2F%2Fwww.em.gov.au%2FDocuments%2FManual28-EconomicandFinancialAspectsofDisasterRecovery.pdf&ei=XO17UdX2FcaiigeT1oCYCQ&usg=AFQjCNGgKyl9WZm6lEw4LUhncbrFlzf7zA&sig2=4zfhYHeYKdlqn4qrM5cFaA&bvm=bv.45645796,d.dGI on April 19, 2013.
3. Bureau of Transport Economics Report 103, 2001 “Economic costs of natural disasters in Australia” Retrieved from http://www.bitre.gov.au/publications/2001/files/report_103.pdf on April 21, 2013.
The Research paper on Impact of Natural Disasters on Economic
We will use March 2011 Tohoku as a case study on the impact of natural disasters on Japan GDP. Initial Impact of Natural DIsaster Personal Consumption - The immediate aftermath of the earthquake and tsunami is only natural for consumption to decrease due to stores being closed or destroyed in the disaster area and reduced income from the disruption in work. Exports - Japan’s economy is largely ...
4. John Trowbridge, Jim Minto, John Berrill, September 2001 “Natural disaster insurance review,”
