Floods to cause $1.7 trillion of property damage per year by 2050

The World Resources Institute predicted that floods are likely to cause $1.7 trillion worth of damage per year to urban property across the world by 2050, compared with $174 billion currently, The Guardian reports. The damage is expected to amount to $712 billion per year by 2030. The worst floods would hit South Asia and Southeast Asia, including Bangladesh, Vietnam, India, Indonesia and China.

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