Estimation of economic loss by earthquakes in Taiwan region

Earthquakes in Taiwan region have caused significant economic losses. The researchers develop a model to assess seismic economic losses using the records of economic losses caused by historical earthquakes. The study introduces Gross National Income Per Capita (GNIPC) as a parameter that responds to the influence of socio-economic development. The results show that the model can accurately estimate the earthquake economic losses.

The difference between the results of this model and those of existing models is evident, indicating differences between the Taiwan region and mainland China regarding geological background, seismic tectonics, and social resistance to earthquakes. The prediction results also imply that the society significantly underestimates seismic economic losses. The model utilized can help support disaster prevention and preparedness, contingency planning, allocation of relief resources, and post-disaster socio-economic recovery.