The storm in mid-September caused enormous damage to both private individuals and companies in Austria. Investments in flood protection have prevented major damage.
The first estimate from the Supply Chain Intelligence Institute Austria (ASCII), the Institute for Economic Research (Wifo) and the Complexity Science Hub (CSH) is now 1.3 billion euros.
The flood damage amounts to 1.3 billion euros, of which 700 million euros to private households. Production losses and damage to companies were estimated at 300 to 900 million euros, while the agricultural sector suffered 14.7 million euros in damage.
The damage to the infrastructure amounts to 1.8 billion euros
Damage to infrastructure was not taken into account, for example at ÖBB; Including this, the total damage could amount to 1.8 billion euros.
The fact that the damage has not increased further is also due to the preventive measures taken in recent years – not least because 60 million euros are invested annually in flood protection.
The floods in 2002 caused damage of three billion euros; in 2013, damage of 0.9 billion euros was registered. The construction of flood protection walls and dams, as well as the introduction of alarm systems, have contributed to the reduction.
There is still room for improvement when it comes to compensating those affected. The disaster fund in Lower Austria currently provides coverage of up to 80 percent in case of hardship.
Source: Krone
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