(Direct economic) loss: Difference between revisions
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Available at: https://www.undrr.org/terminology/economic-loss | Available at: https://www.undrr.org/terminology/economic-loss | ||
'''See also''': [[(Economic) loss|<span style="color: | '''See also''': [[(Economic) loss|<span style="color: #DB20D2">(Economic) loss</span>]], [[(Indirect economic) loss|<span style="color: #DB20D2">(Direct economic) loss</span>]], [[Disaster damage|<span style="color: #DB20D2">Disaster damage</span>]] | ||
Back to '''[[Definitions]]''' | Back to '''[[Definitions| <span style="color: #374CFF">Definitions</span>]]''' | ||
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Revision as of 10:54, 27 February 2024
Definition
The monetary value of total or partial destruction of physical assets existing in the affected area.
Direct economic loss is nearly equivalent to physical damage. Direct economic losses usually happen during the event or within the first few hours after the event and are often assessed soon after the event to estimate recovery cost and claim insurance payments. These are tangible and relatively easy to measure.
Source
UNDRR (2016). Report of the open-ended intergovernmental expert working group on indicators and terminology relating to disaster risk reduction
Available at: https://www.undrr.org/terminology/economic-loss
See also: (Economic) loss, (Direct economic) loss, Disaster damage
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