Flood damage-related economic losses totaled USD $51.6 billion in 2023, but research shows protective measures can substantially reduce losses, according to Swiss Re Institute.
As losses are expected to increase due to more intense weather events and continued urban sprawl, it is necessary to examine ways to reduce risk potential.
Swiss Re Institute’s study, “Resilience or rebuild? The costs and benefits of climate adaptation measures for flood”, compared economic benefits and cost ratios of selected flood adaptation measures.
Protective measures such as dykes, dams and flood gates are pricey, but their financial benefits can exceed