Pre-disaster multi-hazard damage and economic loss estimation model: Annual project report 2015-2016
|Title||Pre-disaster multi-hazard damage and economic loss estimation model: Annual project report 2015-2016|
|Year of Publication||2016|
|Authors||Ulubasoglu, M, Rajabifard, A|
|Institution||Bushfire and Natural Hazards CRC|
In Australia, a country that suffers from numerous natural disaster events, understanding the economic impacts of these events is key to implementing effective disaster risk reduction strategies and improving overall community resilience to minimise the social, economic and environmental impacts. One aspect of achieving this goal includes understanding not only the primary economic effects of the natural disasters, but also the secondary effects that can impact more broadly in many different economic sectors.
In order to address this problem, the multi-hazard damage and economic loss estimation model team are conducting a case study on the 2010-2011 Queensland Floods which involves comparisons between the economic sectors of flooded areas and unaffected areas. The income of individuals residing in those areas will be compared with finer detail revealing the sectoral decomposition of employment to reflect any differences in income by employment type as a result of the flood.
Preliminary results indicate that some sectors experienced no income difference as a result of the floods. Three sectors were impacted negatively, and two were impacted positively as a result of the flood event. Future work will continue to investigate these results, and will aim to understand the different economic impacts to each sector.