Natural disasters with highest economic damage worldwide 2023

The earthquakes in Turkey and Syria in February incurred an economic loss of about 92.4 billion U.S. dollars, the most of any natural disaster event in 2023. Four of the ten most expensive catastrophes in that year were storms.

Weather, climate, water related disaster

The disasters that caused mortality in large numbers include droughts, storms, floods, and extreme temperatures. Hurricanes alone generated 35 percent of the total economic losses among the leading disasters over these 50 years. The global cost of natural disaster losses was primarily financial losses. Low-income countries are more affected by natural disasters when compared to the richer countries in the world.

American Hurricanes

Floods were the most common weather-related disasters recorded, yet storms had the highest human and economic losses. As the most common cause of damage, storms are the only disaster for which the attribution component grows. As of 2023, Hurricane Katrina was by far the most destructive hurricane in the United States. Officials confirmed more than 1,800 deaths, estimated damages of about 200 billion U.S. dollars, the destruction of approximately 350,000 homes, and displaced almost a million individuals.