AccuWeather Estimates Between $4.5 Billion and $6 Billion in Damage and Economic Loss in Texas Flooding
AccuWeather Global Weather Center – August 25, 2022 – AccuWeather Founder and CEO Dr. Joel N. Myers estimates the total damage and economic loss resulting from the significant flash flooding in Dallas Sunday, August 21 and Monday August 22 would range between $4.5 billion and $6 billion.
“As AccuWeather accurately predicted at least 6 days in advance, slow-moving, heavy thunderstorms dumped copious amounts of rain on the sprawling region in a short period of time. AccuWeather also warned of the risk for rapid runoff due to the dry landscape and hard soils, leading to overflowing rivers and streams. ‘Drenching, drought-easing, deluge and dangerous’ were terms that AccuWeather meteorologists specifically used to describe the unfolding event and communicate the risk to people businesses and communities. AccuWeather expert meteorologists accurately predicted that extreme rainfall rates of 2-4 inches per hour would lead to rapidly rising water and a quickly escalating dangerous flash flood emergency.
“Within a couple of hours, reports of street flooding were already pouring in, and by and Monday afternoon, parts of the city picked up 8-12 inches of rain with some localized amounts of more than 15 inches. By Monday evening, the flooding had tragically already turned deadly when it was reported that a 60-year-old woman was killed when her vehicle was swept away in the flood waters.”
Myers, who has been studying the economic impact of severe weather for over 50 years, said, “Our estimate largely accounts for damage to homes, businesses, roadways and vehicles as well as power outages, which resulted in food spoilage that will be expensive to replace due to recent inflation. Flight and school cancellations and delays and significant delays to shipping and supply chain within one of the country’s major economic hubs were also contributing factors to the economic toll of the storm.”
Myers estimate is based on an analysis incorporating independent methods to evaluate all direct and indirect impacts of the storm, includes both insured and uninsured losses, and is based on a variety of sources, statistics, and unique techniques AccuWeather uses to estimate the damage, and includes damage to property, job and wage losses, infrastructure damage, auxiliary business losses and medical expenses. The estimate also accounts for the costs of evacuations, relocations, emergency management and the extraordinary government and private expenses for and cleanup operations and the long-term effects on business logistics, transportation, tourism and the tail health effects resulting from flooding and the disease caused by standing water.
For the latest news, videos and updates visit AccuWeather.com
About AccuWeather, Inc. and AccuWeather.com – AccuWeather, recognized and documented as the most accurate source of weather forecasts and warnings in the world has saved tens of thousands of lives, prevented hundreds of thousands of injuries and tens of billions of dollars in property damage. With global headquarters in State College, PA and other offices around the world, AccuWeather serves more than 1.5 billion people daily to help them plan their lives and get more out of their day through radio, television, newspapers, smart phones, tablets, connected TVs, the AccuWeather Network and AccuWeather.com. Additionally, AccuWeather produces and distributes news, weather content, and video for more than 180,000 third-party websites.