The economic cost of disasters in 2011 was the highest in history, costing at least $380 billion, mainly due to earthquakes in Japan and New Zealand, a U.N. official said Monday. Margareta Wahlstrom, the secretary-general's special representative for disaster risk reduction, said the figure was two-thirds higher than the previous record in 2005 when Hurricanes Katrina and Rita hit the southern United States. In addition to the Pacific earthquakes, Wahlstrom said major flooding in Thailand and other countries caused extensive damage. Despite the rising costs, Wahlstrom said, deaths from disasters are declining because countries are becoming better by instituting early-warning systems and preparedness measures.
