It’s unstoppable: future flood-related disasters will be bigger and costlier even if coastal cities take measures to improve infrastructure, shows a new study by the journal Nature Climate Change.
The recent report shows that global flood losses may hit $52 billion by 2050 from socioeconomic changes alone, with a 15 percent to 20 percent damage increase due to rising sea levels and earth’s tectonic activity.
10. New Orleans, La.
Average Annualized Loss (AAL): $1.86 billion, 18% increase from 2005
9. Ho Chi Minh City, Vietnam
AAL: $1.95 billion, 12% increase from 2005
8. New York, N.Y.—Newark, N.J.
AAL: $2.06 billion, 5% increase from 2005
AAL: $2.27 billion, 26% increase from 2005
Tianjin’s manufacturing industry, including an airline assembly factory, makes up the majority of the city’s economic output. Any deluge that hits this city nestled between the Hai, Yellow and Yangtze rivers would have drastic effects; thus, in May 2012 the city began a project that would increase Tianjin’s drainage capacity.
6. Miami, Fla.
AAL: $2.55 billion, 21% increase from 2005
5. Shenzen, China
AAL: $3.14 billion, 7% increase from 2005
4. Guayaquil, Ecuador
AAL: $3.19 billion, 13% increase from 2005
2. Mumbai, India
AAL: $6.41 billion, 5% increase from 2005
1. Guangzhou, China
AAL: $13.2 billion, 11% increase from 2005
Guangzhou, China’s third largest city, is the capital of China’s Guangdong province. Home to nearly 13 million people, it is a transportation and trading hub situated on the Pearl River, just 75 miles northwest of Hong Kong. It is a “Beta World City”, or global economic node, as categorized the Globalization and World Research Network.