What Worldwide Spending on Flood Protection is Telling YOU!
August 7, 2020 | Created by: Andreas Klippe
Did you ever notice how things seem to appear out of nowhere? And then BOOM, suddenly it’s everywhere! It makes you wonder if it’s been planned all along, right? You are certainly correct!
In the harsh environment of high-level politics and corporate machinations, one decision can make or break your career, or worse, bankrupt a company or country. Any major investment simply must go through a calculated study of risk and reward.
They know something that you don’t, but not for long! In this week’s blog, we’ll tell you why major businesses and countries are increasing their spending on flood protection technology and why you should, too.
Follow the Money
Major businesses and countries make it a priority to be ahead of the curve by anticipating global trends. A fortune is spent on research and the resulting data is analysed thoroughly before any additional spending is made. It may be for a new product, new equipment, technology, expansion, or anything that the company or country would have a big hand in.
One thing the big players agree on right now is investing in flood control solutions. We can see this by looking at what they spend their money in. According to the World Bank, the annual cost of flood protection is estimated to be USD14.76 billion for developing countries in East and South Asia and Pacific regions.
As the sea level rises, so does spending on Flood Protection Technology. Protecting yourself from floods now prevents massive losses in the future!
According to a study from the Japan International Cooperation Agency (JICA), the Philippines, China, UK, and Indonesia are some of the countries that have increased their flood control budgets in the past years as a reaction to the enormous damage from recent disasters. The Philippines and China both spend around 0.4% of their GDPs for flood protection but suffer from high economic damage from floods: 1.3% and 3.5% of their GDPs, respectively.
“You can spend on RECOVERY or PROTECTION, which one do you choose?”
In comparison, Japan and the Netherlands, two countries with a long history of investing in Flood Protection Technologies, were able to decrease flood damage losses to 0.02% and 0.06% of their GDP, respectively.
Their Wallets Don’t Protect You
Some countries are far ahead than others. While Japan and the Netherlands are investing some 0.2% of their GDPs for flood control, they are already preparing more in preparation for the future effects of climate change — the real reason for the rising expenditures all around the world.
The worsening effects of climate change worldwide are increasing losses for companies and governments beyond a tolerable point. From car dealerships and hotels to airports, businesses are starting to protect themselves from floods.
The information is clear. Companies and governments all around the world are already taking flood protection seriously. Do you plan on staying unprotected?
Mind Your Own Business!
With the information presented to you, I believe you would do the same and act now!
“Think of yourself as your own business or country. You have your own investments to protect such as your family, home, or vehicle.”
Flood protection is a solid investment. But don’t waste time and money in substandard flood control solutions. Contact a flood expert for a proper engineering assessment and you too can get the accurate data you need to make an informed decision.
In the coming months, you will only find more and more stories of flooding and flood protection projects. We hope you make the wise decision before tragedy strikes.
Stay safe and stay flood free.