The Southern California wildfires that have killed at least five and forced tens of thousands of people to evacuate the area are expected to leave lasting economic damage of more than $50 billion, a new report suggests.
According to a preliminary estimate from AccuWeather, the major wildfires that have blanketed the Los Angeles area with thick clouds of smoke and ash could create economic losses between $52 billion and $57 billion.
The early projection includes insured and uninsured losses. The report evaluated the disaster’s direct and indirect impacts, including damages to property, infrastructure, crops, and costs associated with evacuations, cleanup operations, and emergency management….