The Economic Aftermath of the Tsunami

The Economic Aftermath of the Tsunami PowerPoint PPT Presentation

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The Economic Aftermath of the Tsunami. A case study of Thailand and the Maldives ... After the Tsunami: Maldives. 10% of the islands totally destroyed. 100 ...

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The Economic Aftermath of the Tsunami

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Slide 1:The Economic Aftermath of the Tsunami

A case study of Thailand and the Maldives Cara Steffey and Jillian Stout

Slide 2:Before the Tsunami: Thailand

1970-1990: 6.7% per year growth Bankok: very commercial, modern city Well developed infrastructure Free-enterprise economy Main industries: tourism, textiles, agricultural processing, beverages, tobacco, electrical appliances, computers, and minerals such as tungsten and tin Welcomes foreign investments

Slide 3:Before the Tsunami: Maldives

Government began economic reform in 1989 Main industries: tourism, fishing Agriculture and manufacturing play lesser role in economy because of limited cultivatible land and shortage of domestic labor Most staple foods are imported Threat of erosion and global warming from low-lying land

Slide 4:After the Tsunami: Thailand

8,500 dead Massive destruction of property in southern province of Krabi, Phangnga, and Phuket Tourism and fishing hard hit along coasts

Slide 5:After the Tsunami: Maldives

10% of the islands totally destroyed 100 people dead 12,000 people displaced $300 million property damage Felt by entire country, not just in concentrated areas 50,000 buildings destroyed (schools, hospitals, pharmacies, administrative offices) 79 islands without safe drinking water 19 out of 87 resorts forced to close down

Slide 6:Repair Efforts: Thailand

Focus on restoring coastal livelihoods Chance to replenish fishing populations Overall impact on agriculture was minimal, but salt water did damage some farms and fresh water sources Governmental help Process of developing an early warning system

Slide 7:Repair Efforts: Maldives

Repairs require US $304 million Rebuilding expected to proceed quickly, mainly replicating previous structures Governmental help $14 million from World Bank

Slide 8:Complications: Thailand

Tsunami revealed strategic weaknesses in economy: over concentrated and undiversified tourism development Property owners dead/individual records loss making it difficult to rebuild Families preoccupied with personal tragedies rather than immediate rebuilding Domestic tourism expected to take longer than foreign tourism

Slide 9:Complications: Maldives

Civil unrest broke out Infrastructure damaged Difficult to rebuild and recover

Slide 10:Positive Outlook

Spurred development of long term strategies such as appropriate coastal planning Rebuild stronger structures Donations for recovery at record levels Financial and technological volunteers

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