How do floods affect the economy?
In addition to damage costs, flooding results in lost productivity, reduced hours worked and losses in GDP due to the need for resources to be put towards recovery efforts and away from daily activities. …
What is the effect of flooding?
The primary effects of flooding include loss of life and damage to buildings and other structures, including bridges, sewerage systems, roadways, and canals. Floods also frequently damage power transmission and sometimes power generation, which then has knock-on effects caused by the loss of power.
Why is flooding more likely in urban areas?
The likelihood (i.e. hazard) of pluvial flooding occurring is higher in urban areas due to the high proportion of tarmacked and paved surfaces, which limit water infiltration and increase the amount of water running off the ground surface as well as it’s speed.
What damage is caused due to floods?
Floods have large social consequences for communities and individuals. As most people are well aware, the immediate impacts of flooding include loss of human life, damage to property, destruction of crops, loss of livestock, and deterioration of health conditions owing to waterborne diseases.
Why would flooding affect the whole community?
The impact of a flood can affect a community in many different ways. In some cases, flooding can create poverty in low income households. It can make life more precarious for the vulnerable and elderly; has psychological effects on children and adults and is an added distress for people with a language barrier.
How does a flood affect the local economy?
Flooding can have a negative effect on the local economy. Even if a business wasn’t directly affected they may still see a drop in revenue. Repairing infrastructure, loss of lives and destruction of properties all impact on the local community and recovering can take a long time.
How are employees affected by road closures and floods?
Staff can also be affected by road closures as they may not be able to physically get to work if access is limited. This could mean the business doesn’t open at all until the roads are open again. Although a business premises may have survived floods there could be employees that have been directly affected.
What are some of the benefits of flooding?
The environmental benefits of flooding can also help the economy through things such as increased fish production, recharge of groundwater resources, and maintenance of recreational environments. Areas that have been highly modified by human activity tend to suffer more deleterious effects from flooding.
What to do if your business is affected by flood?
Businesses at risk of flood that rely heavily on electrical equipment should consider back up power or emergency generators as a contingency measure. It is also worth investing in good back up for data in case any servers are affected. Whilst a business may have survived physical flooding they may still be affected.