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The Economic Cost Of The Social Impact Of Natural Disasters

In March 2016, the Australian Business Roundtable for Disaster Resilience & Safer Communities released ‘The Economic Cost Of The Social Impact Of Natural Disasters’. This report looks at the costs and long-term social impacts of natural disasters in Australia and finds the social costs of natural disasters in 2015 were at least equal to the physical costs (as outlined in our previous reports). 

The report makes four key recommendations: 
  • Pre- and post-disaster funding should better reflect the long-term nature of social impacts
  • A collaborative approach involving government, business, not-for-profits and community is needed to address the medium- and long-term economic costs of the social impacts of natural disasters 
  • Governments, businesses and communities need to further invest in community resilience programs that drive learning and sustained behaviour change
  • Further research must be done into ways of quantifying the medium- and long-term costs of the social impacts of natural disasters
Released: 2 March 2016
Download full report:
Full report (3.6KB.pdf)
Download by section:
CEO statement
Glossary & acronyms
Companion reports
Executive summary
1. Introduction
2. The social cost of natural disasters
3. The cost of natural disasters - Australian experiences
4. Building resilience - the cost of community awareness, education & engagement programs
5. Recommendations
Appendix A: Companion papers
Appendix B: Productivity Commission Inquiry into Natural Disaster funding
Appendix C: International experiences
Appendix D: Methodology for estimating costs
Appendix E: Literature review