Volcanoes are not cheap
Volcanoes can be disastrous for governments, private companies and local residents in the areas where they occur, given the huge cost of volcanic damage. With hundreds and thousands of people unemployed, suffering countless health problems and the subsequent cleansing of volcanic ash, volcanoes are perhaps among the most costly natural disasters known to mankind. EM-DAT, the international disaster database, recently released statistics on economic losses caused by major volcanic eruptions from 1900 to 2015. The cost of each major volcanic eruption in the database is reported in millions of U.S. dollars,
The most expensive volcanoes recorded
According to information provided by EM-DAT, the most expensive volcano to have ever appeared was that of the 13th in November, 1985 in Colombia. It is believed to have caused an economic loss of approximately $ 1 billion USD. The eruption of this volcano was rather small, but it nevertheless caused a gigantic flow of mud, lava and debris. The fire runoff literally buried the entire city of Armero and killed 23,000 of its 29,000 residents. Several evacuation attempts were made on the day of the eruption, but communication was restricted due to a severe storm. Many victims continued to stay at home, thinking that the eruption was over, when the sound of the storm had just muffled the sounds of the volcanic eruption.
The second most expensive volcanic eruption since 1900 occurred in the United States on the 18th in May, 1980. The estimated cost of this volcano was $ 860 million USD. Next comes a volcanic eruption that occurred in the Philippines on the 9th of June to 1991, which resulted in losses of approximately one million US dollars. Meanwhile, the volcanic eruptions that took place in Indonesia on 211th in April, 5 and in Ecuador in 1982 in August, 14, cost millions of dollars 2006 and 160 million dollars, respectively, in US dollars.
Other costly volcanic eruptions
Three other very expensive volcanic eruptions were ranked at the top of our list by EM-DAT statistics. One of them occurred in Papua New Guinea in September 19th, 1994. The eruption is believed to have caused an economic loss of approximately $ 110 million USD. 4 in Argentina, an eruption which occurred on 2011 on June 6, also cost around $ 104 million and 14 caused a loss of $ 2014 million.
Learn from the past
While the most frightening threats are the loss of life from volcanic eruptions, the economic damage they can potentially cause is not a source of laughter either. The awareness of volcanic dangers having increased in vulnerable areas and the implementation of action plans, it is hoped that the financial damage linked to volcanic rocks will be better mitigated in the future.
The most expensive volcanic eruptions in history
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| Rank | Incident | Cost (in millions of USD) |
|---|---|---|
| 1 | Volcanic eruption in Colombia (November 13, 1985) | $ 1,000 |
| 2 | Volcanic eruption in the United States (May 18, 1980) | $ 860 |
| 3 | Volcanic eruption in the Philippines (June 9, 1991) | $ 211 |
| 4 | Volcanic eruption in Indonesia (April 5, 1982) | $ 160 |
| 5 | Volcanic eruption in Ecuador (August 14, 2006) | $ 150 |
| 6 | Volcanic eruption in Indonesia (September 9, 1983) | $ 150 |
| 7 | Volcanic eruption in Mexico (Mar 28, 1982) | $ 117 |
| 8 | Volcanic eruption in Papua New Guinea (September 19, 1994) | $ 110 |
| 9 | Volcanic eruption in Argentina (June 04, 2011) | $ 104 |
| 10 | Volcanic eruption in Indonesia (February 14, 2014) | $ 103 |
