Tokyo, Japan: A massive earthquake struck central Japan on New Year’s Day, claiming the lives of at least 236 individuals and causing widespread devastation. According to a government official, the financial toll of the disaster could climb as high as $17.6 billion.
The magnitude-7.5 quake and subsequent aftershocks ravaged parts of Ishikawa prefecture along the Sea of Japan coast, resulting in the collapse of buildings, destruction of roads, and triggering a significant fire outbreak.
Damage assessments conducted in Ishikawa and two neighboring regions suggest that the cost of restoration could range between $7.4 billion and $17.6 billion, based on data from previous seismic events. These estimates were presented during a government economic meeting on Thursday.
Comparatively, the projected financial impact falls considerably short of the 2011 earthquake and tsunami that struck northeastern Japan, inflicting damage totaling 16.9 trillion yen. That catastrophe claimed around 18,500 lives and led to a nuclear crisis at the Fukushima plant.
Recovery efforts in Ishikawa have been challenged by heavy snowfall and extensive road damage. Detailed reconstruction plans unveiled by authorities on Thursday aim to address these challenges, including enhancements to evacuation shelters, financial support for rebuilding infrastructure, and initiatives to revive tourism in the region.
Japan’s geographical location along the Pacific “Ring of Fire” makes it susceptible to frequent seismic activity. While the country has stringent construction standards to withstand earthquakes, many older structures, particularly in rural areas like those impacted by the recent quake, remain vulnerable.
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