Magazine date:
Jul 2011 The earthquake and tsunami that hit Japan on March 11, 2011 will cost the country 211 billion USD, that is 3.5% of GDP. This amount pertains only to the direct damages caused to homes, infrastructure and businesses and does not include indirect economic consequences such as power shortages, disruption of business activity or the Fukushima nuclear accident [4].
This disaster, which claimed more than 23 000 lives, is much more expensive than the Kobe earthquake which occurred in 1995, resulting in 92 billion USD of damages.