The estimated cost of natural disasters in Spain in 2021 is 3,600 million euros. (added impacts on assets, direct and indirect GDP, and impact on critical infrastructures), two-thirds of the Aon foundation’s annual barometer, 2,320 million insured.
Caused by storm Filomena, La Palma volcanic eruption, frosts, DANAS, hail and rain phenomenon, wind and heatstroke, and floods 1,300 million (41% insured) worth of financial losses, while Spanish companies stopped billing 3,292 million euros1,492 of them are directly in agriculture and agri-food sector.
In addition, there is an economic impact on critical infrastructures, estimated at 522 million euros.
63% more compensation for La Palma volcano than the previous year
2,320 million compensation from these extraordinary events is 63% more than in 2020 and 29% more than in 2019.
About half of these compensations were paid by private insurance, 35% by Agroseguro, 25% by the Insurance Compensation Consortium and 1% by Civil Protection.
The main increase in costs compared to 2020 is explained by the impact of the volcanic eruption in La Palma.He pointed to an adviser to International Financial Analysts Verónica López, a member of the scientific board who prepared the report, which puts together nearly every four euros.
However, Irains, floods and late hail accounted for 58% of the compensation.
By region, 25% of compensation due to the volcano, as well as heatstroke, was paid in the Canary Islands, followed by Castilla-La Mancha (12%), although Navarra had the highest per capita cost of production. At 124 euros per capita, it is high in the country, 17% more than the impact of the volcano in the Canary Islands.
Regarding the financial loss of 1,300 euros, the research shows that 62% affected homes and 19% businesses and warehouses.
The Canary Islands were the most affected community in 2021, with 41% of damage, followed by Andalusia (15%) and Navarra (13%).
1.492 million who stopped entering
Regarding the impact on income, caused by natural disasters Spanish companies will stop entering 1.492 million directly, 99% of these are concentrated in the agriculture and livestock sector.
Data Rain and floods as the source of most of these losses, followed by frost and wind.
About Half of the economic activity loss was concentrated in Castilla-La Mancha (23%), the Community of Valencia (15%) and Aragon (12%).The region most affected by the cost per capita was La Rioja, where the floods in the fall caused a job loss of 70 euros per person.
The decrease in the turnover of the directly affected companies was estimated at 492 million, while the sales contracts of the companies that provided them with products and services saw an additional 1,243 million euros.
Both direct and indirect effects impact on wages and consumptionVerónica López announced that it means a new contraction of 478 million in a number of companies.
Collectively, this showed that the disasters resulted in a reduction of close to 3,200 million in total billing, with half of these losses being compensated by the compensation consortium and Agroseguro.
Like this The negative impact on GDP amounted to 1.126 million unexplained impacts, equivalent to 0.1% of Spain’s GDP in 2021.; an economic recession that caused about 23,000 jobs to be lost, half of which were in utilities.
Regarding critical infrastructures (522 million impacts), Leire Labaka, a tenured professor at the Tecnum-University of Navarra School of Engineering, emphasized that Filomena was the most affected phenomenon, although the hail and rains in May were the biggest economic impact. coup.
The food sector was most affected, followed by transportation, health, energy and water.
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Contact information of the environment department: [email protected]
Source: Informacion
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