Japan Disaster breaks Record for Costliest Natural Disaster | KozMedia News: "Earlier today, Japan’s government stated that the cost of the earthquake and tsunami that hit the northeastern coast of Japan earlier this month would cost over $309 billion, making it the twin disasters the most expensive natural disaster ever recorded. The damage done to the seven prefectures affected by the disasters include smashed houses, shattered roads, destroyed utilities and businesses, not to mention damaging at least two nuclear power plants.
The losses and their costs were considerably higher than what other analysts had predicted. Last week, the World Bank estimated the damage to cost just over $235 billion. Investment Bank Goldman Sachs also predicted that the damages would also cost around $200 billion. Either way, the costs of the damages drastically surpasses the cost of the previous record holder. Over $125 billion worth of damage was caused by hurricane Katrina in 2005."
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