Panoramic view of downtown Maui, Hawaii, destroyed by fire [사진제공:연합뉴스]
An analysis has come out that the economic cost of forest fires on Maui, Hawaii, USA can reach up to 7.5 billion dollars and about 10 trillion won in our money.
Moody’s Analytics, a financial intelligence firm, presented an initial estimate of the economic impact of the wildfires at $3 billion to $7.5 billion in a report on the 14th local time.
“The cost to the economy of up to $7.5 billion is astronomical, considering Maui’s annual output is $10 billion,” the report said.
The largest part of Maui’s wildfire economic cost is direct property damage, reflected in the wildfires striking densely populated areas and destroying more than 2,000 buildings, including homes.
Moody’s Analytics predicted that the wildfires would cause a “short but severe recession”.
In the short term, it is expected that tourism revenue, which has supported the local economy, will decrease, jobs will be lost, and local finances will also be hit by the decrease in tax revenue.
The report added, “Travelers may be reluctant to visit Hawaii itself as the recent volcanic eruption on the Big Island of Hawaii overlaps.”
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2023-08-15 01:58:25
