LA wildfire may cause $57 billion in damage.
The Los Angeles wildfire is projected to be one of the costliest U.S. disasters, with damages estimated between $52 billion and $57 billion, according to Bloomberg.
The fire, fueled by strong winds, poses a significant threat to the Getty Villa art museum in Pacific Palisades, California, as reported by AFP. The flames are devastating some of the wealthiest neighborhoods near Santa Monica and Malibu, where the median home value exceeds $2 million, according to AccuWeather Inc. Total damage and economic losses are projected to fall within the $52 billion to $57 billion range.
Driven by hurricane-force winds, the wildfires have the potential to spread deeper into affluent neighborhoods, causing even greater property destruction.
Hurricane Katrina, which struck in 2005, continues to hold the record as the costliest natural disaster in U.S. history, with estimated damages of $200 billion, according to the National Oceanic and Atmospheric Administration. By comparison, California’s 2018 wildfires, including the Camp Fire, resulted in damages of around $30 billion.
In addition to the loss of lives and properties, the Los Angeles wildfires are likely to have lasting health consequences due to exposure to toxic smoke and could severely impact the region’s tourism sector.
Jonathan Porter, AccuWeather’s chief meteorologist, stated, This wildfire is already among the most devastating in California’s history. Should a substantial number of additional structures be lost in the coming days, it could become the most catastrophic wildfire in modern California history based on structural destruction and economic impacts.
Also read: Fit India Campaign: Sunday Cyclists Conquer India Gate.
California wildfires: Latest developments
The wildfires raging in the Los Angeles area have resulted in at least five fatalities and the destruction of more than 1,000 structures. Fast-moving flames have swept through homes and businesses, prompting evacuations from smoke-filled canyons and picturesque neighborhoods, including those where many celebrities reside.
The fires, which began on Tuesday, were intensified by powerful Santa Ana winds reaching speeds of over 70 mph (112 kph) in some locations. These strong winds persisted into Wednesday, temporarily halting aerial firefighting operations due to hazardous conditions. Efforts from the air resumed on Wednesday morning.
