News Americas, GREAT ABACO, The Bahamas, Sat. Nov. 16, 2019: Damages and other impacts on The Bahamas by Hurricane Dorian has been put at an estimated $3.4 billion by the Inter-American Development Bank, (IDB).
The IDB’s report, , Assessment of the Effects and Impacts of Hurricane Dorian in the Bahamas, also says the impacts and effects of Hurricane Dorian on The Bahamas’ economy will last for years. The estimate comes out to over a quarter of the country’s GDP – or the equivalent of the US losing the combined economic outputs of California, Texas and Florida.
“It is important that those directly affected by the disaster feel the presence and solidarity of the government throughout the difficult process ahead,” said Daniela Carrera-Marquis, the representative of the Inter-American Development Bank (IDB). “Reconstruction efforts will last many years and will require a well-coordinated participation of public and private sectors, civil society and the international community.”
The $3.4 billion impact was divided as 72 percent in damage, 21 percent in losses and 7 percent in additional costs with the private sector absorbing almost 90 percent of total losses. Abaco suffered 87 percent of the losses and 76 per cent of the damage.
The housing sector suffered the highest damage, while tourism sector bore most of the losses.
Post-disaster the economy is expected to grow 0.9 percent. The impact of Hurricane Dorian is percentage point of GDP, resulting in a decrease in salaries of $51.3 million and of capital income of $60.9 million.
The number of confirmed deaths caused by Hurricane Dorian is 67, with 282 persons still missing as of October 18, 2019. An additional 29,472 persons were affected by the hurricane by damages to their homes and assets.
Between Sept. 1 and 3, Hurricane Dorian struck Grand Bahama and Abaco with punishing winds and storm surges, with the island of New Providence also suffering some impacts. Inadequate construction and infrastructure located in vulnerable areas exacerbated the storm’s impacts.