What is Hurricane Harvey? How it impacted the economy?

Hurricane Harvey

The year 2017, inhabitants of Texas witnessed a calamitous hurricane Harvey that put the lives and infrastructure on stake. Therefore, today the pick of the article is all about Hurricane Harvey.  Let us proceed further to get some insight on the ruinous flood and how did it lead to a setback in terms of economy.

Hurricane Harvey

Image courtesy: https://edition.cnn.com/specials/us/hurricane-harvey

What is the hurricane Harvey?

Hurricane Harvey started along the coast of Africa and traversed westward towards the Atlantic taking the shape of a tropical type of storm. During that, time a circulation developed on the surface and convection current integrated for consecutive days.

Later that turned into a tropical type of depression covering 814 km along the east corner of Barbados.  The hurricane moved quickly towards the west where it became powerful and took the shape of the tropical storm. Indeed, from that day onwards, it was named Harvey.

From there it headed to the Caribbean Sea where it got scattered and followed an unorganized pattern. Once again took the form of a tropical wave and moved to the Gulf of Mexico.

Talking about the grade it belonged to the fourth category of the hurricane. Certainly, climatologists did find a similarity with Hurricane Katrina one of the devastating among all.

How was Hurricane Harvey caused?

You all know that the basic cause of hurricanes is due to the rising of moist and warm air from the surface of the ocean. It rises briskly and collides with the cooler air thus condensing the water vapour and resulting into storms and rains.

Hurricane Harvey, it started as a tropical type of wave. However, factors like wind shear made the Harvey weaken and degrade into a tropical form of a wave.

How it affected the economy?

  • Damaged assets in Texas:

As per the data, the hurricane Harvey actually destroyed about 2, 90,000 homes. Talking about vehicles it ruined about 3, 00000 automobiles.

  • Expensive natural calamity:

Rummaging through the history of the USA, this one is the costliest of the natural calamities to date in the USA. Over all, it took $160 billion to restore the losses. Overall, the hurricane actually resulted into a massive financial loss of $75.

Loss of business:

It also resulted in gigantic losses in terms of business which counts to 23, 650. Note thatestablishments just disappeared in the wink of an eye. Overall it hampered the business of 15% of the population. The local residential places also suffered massively. Enlisted areas such as Rockport Fulton and Port Aransas had to lose about 13% of their businesses.

Besides that, it also obstructed the regular business of the supply chain organizations.

However, to date, the devastated regions witnessed a minor gain in the net profit, which is only 5%. But Port Aransas in the region of Nueces County and the Eastern part of Texas saw an immense development which is 48%. Indeed, this is exceptionally high especially from a calamity-impacted region.

Final say:

Calamity is the call of nature, but human civilizations have to take the responsibility of safeguarding nature so that it remains balanced. Therefore, the above article gives a complete image of what is hurricane Harvey and how it affected the economy.

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