Hurricane Melissa has caused an estimated $6 billion to $7 billion in damages in Jamaica and between $48 billion and $52 billion across the Caribbean. These figures represent a significant hit to Jamaica's economy, equivalent to roughly 30% of its GDP.
Jamaica
- Total damage: Preliminary estimates place the total damage cost between $6 billion and $7 billion, or about 30% of the nation's GDP, according to the BBC News.
- Insured losses: Insured losses in Jamaica are estimated to be between $2.2 billion and $4.2 billion.
- Economic impact: The storm is expected to cause an 8% to 13% decline in the country's GDP as a result of the devastation.
Caribbean Region
- Total damage: The total estimated damages across the entire Caribbean are between $48 billion and $52 billion.
- Economic factors: This figure encompasses both physical destruction and long-term financial losses, including those incurred by the tourism sector.
Other factors
