The economic cost of the social impact of natural disasters

This report looks at the costs and long-term social impacts of natural disasters in Australia and finds the social costs of natural disasters in 2015 were at least equal to the physical costs (as outlined in our previous reports). The report makes four key recommendations: 1. Pre- and post-disaster funding should better reflect the long-term nature of social impacts; 2. A collaborative approach involving government, business, not-for-profits and community is needed to address the medium- and long-term economic costs of the social impacts of natural disasters; 3. Governments, businesses and communities need to further invest in community resilience programs that drive learning and sustained behaviour change; 4. Further research must be done into ways of quantifying the medium- and long-term costs of the social impacts of natural disasters.

• Record URL:
  http://australianbusinessroundtable.com.au/our-papers/social-costs-report
• Corporate Authors:

  Australian Business Roundtable for Disaster Resilience and Safer Communities

  Sydney, NSW, Australia
  Sydney, NSW   

  Deloitte Access Economics

  ,    
• Publication Date: 2016-3

Language

• English

Media Info

• Pagination: 109p

Subject/Index Terms

• TRT Terms: Benefit cost analysis; Disasters; Economics; Externalities; Financing; Infrastructure; Investments; Planning; Risk assessment; Social impacts
• Uncontrolled Terms: Policy and planning
• Geographic Terms: Australia
• ATRI Terms: Cost benefit analysis; Disaster management; Infrastructure; Investment; Planning; Risk assessment; Social costs; Transport economics
• ITRD Terms: 2184: Emergency; 1055: Transport infrastructure
• Subject Areas: Economics; Finance; Planning and Forecasting; I72: Traffic and Transport Planning;

Filing Info

• Accession Number: 01596431
• Record Type: Publication
• Source Agency: ARRB
• Files: ITRD, ATRI
• Created Date: Apr 20 2016 2:38PM