The total cost of these events exceeds $37.9 billion and 106 direct and indirect fatalities. 2024 is in second place trailing 2023 (17 disasters) for the first six months of a year (all costs CPI-adjusted to present). 2024 is currently in fourth place ($37.9 billion) trialing 2011, 2023 and 2008 for the first six months of a year (all costs CPI-adjusted to 2024 dollars).
The very active U.S. severe storm season is reflected in the high count of billion-dollar events that have produced destructive tornadoes, severe hail and high wind across much of the central and southeastern U.S.
Potential billion-dollar events we have not yet included as of July 9 are: the late-June Midwest Flooding, the mid-June New Mexico wildfires, the July 12-13 severe storms over the Central U.S. and category 1 Hurricane Beryl that made landfall in Texas on July 8.
In addition, all signs point to a hyperactive Atlantic hurricane season, and hurricanes are the costliest hazard on average to affect the U.S. averaging $22.8 billion per event (in 2024 dollars).
2024 will likely be the fifth year in a row with more than 18 events, and it may end up challenging 2023 – a historic year in the number of costly disasters and extremes throughout much of the country. There were 28 separate weather and climate disasters in 2023, surpassing the previous record of 22 in 2020, tallying a price tag of at least $92.9 billion.
Since 1980, the U.S. has sustained 391 separate weather and climate disasters since 1980 where overall damages/costs reached or exceeded $1 billion (including inflation adjustment to present day dollars). The cumulative cost of these 391 events exceeds $2.755 trillion.
The frequency and cost of weather and climate disasters are increasing in the United States due to a combination of increased exposure [more assets at risk], vulnerability [where we build, how we build], and that climate change is increasing the frequency of some types of extremes that lead to billion-dollar disasters. A lot of development has taken place in vulnerable areas along the coasts, the wildland urban interface or in river floodplains. Vulnerability is especially high where building codes are insufficient for reducing damage from extreme events.
In recent years there has been an increasing exposure and vulnerability of the U.S. to extreme weather and climate events. To better reflect this, we have integrated county and census tract socioeconomic vulnerability and exposure analysis to highlight U.S. counties where extremes may cause disproportionate physical, social and economic impacts on vulnerable populations. Historically, the U.S. South, Central and Southeast regions have experienced a higher frequency and cost from billion-dollar disaster events. These same U.S. regions are also projected to have the most negative future impacts across several socioeconomic metrics, See: https://www.ncei.noaa.gov/access/billions/risk
Recent data product enhancements include our multi-hazard risk & socioeconomic vulnerability mapping now also including data on Veterans. Future product enhancements will include sub-billion-dollar event analysis ($100M to $999M) back to 1980. This update will provide information on more than one thousand destructive events, over the last 45 years (1980-2024), to offer perspective on smaller events and risk. We will also examine the climate change signal vs. changes in built exposure and vulnerability within these billion-dollar disasters over space and time.
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