Insurancebusinessmag | Tuesday, August 30, 2022 
Flooding and other water risks could wipe $5.6trn from GDP by 2050

New research from professional services company GHD entitled ‘Aquanomics’ has estimated the future economic impact of water risk from floods, storms, and droughts across 10 geographies. It discovered that a staggering $5.6 trillion could be lost by 2050, with more than $1.3 trillion of it lost within the next decade. Australia, the Philippines, and the US are expected to experience among the biggest average economic decline. Heavy rains in 2022 alone have swamped cities and disrupted water and electricity supply, while droughts have put farmers’ harvests at risk. According to the Centre for Research on the…Read more