(MENAFN) The last 50 years have seen major earthquakes that not only resulted in tens of thousands of deaths but also caused massive economic damage. According to data compiled by Anadolu, these earthquakes have created almost USD1 trillion in economic losses. Among the most destructive earthquakes is the Tohoku earthquake and tsunami that hit Japan in March 2011, with a magnitude of 9.1. It claimed almost 20,000 lives and caused 70 million cubic meters of rubble. In terms of property losses, it has become the largest with a value of USD360 billion. It is also the most expensive in history in terms of insured losses at USD47 billion, based on data from the Insurance Information Institute (I.I.I.).
Another significant earthquake is the Great Hanshin earthquake that occurred in Japan in 1995. With a magnitude of 6.9, it led to a death toll of over 6,400 and caused an estimated USD200 billion in economic damage. In 2008, the Sichuan earthquake in southern China with a magnitude of 8 resulted in the deaths of over 87,000 people and incurred USD150 billion in damages.
The United States also experienced a costly earthquake on Jan. 17, 1994, when a magnitude 6.7 earthquake hit Los Angeles, California, known as the Northridge earthquake. The economic damage caused by this earthquake was estimated to be USD50 billion. It is also the second-largest earthquake in history in terms of insured losses, which reached USD31 billion, as per the I.I.I.
These earthquakes demonstrate the catastrophic consequences they can cause, not only in terms of loss of lives but also in terms of economic damage. Their impact on infrastructure, buildings, and property is significant, and they serve as a reminder of the importance of disaster preparedness and prevention.
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