Reply #3: Giant waves damage S Asia economy

[54anickel]

http://news.bbc.co.uk/1/hi/business/4127433.stm

Governments, aid agencies, insurers and travel firms are among those counting the cost of the massive earthquake and waves that hammered southern Asia.
The worst-hit areas are Sri Lanka, India, Indonesia and Thailand, with more than 14,000 people killed.

Early estimates from the World Bank put the amount of aid needed at about $5bn (£2.6bn), similar to the cash offered Central America after Hurricane Mitch.

Mitch killed about 10,000 people and caused damage of about $10bn in 1998.


'Full support'

Tourism is a vital part of the economies of the stricken countries, providing jobs for 19 million people in the south east Asian region, according to the World Travel and Tourism Council. In the Maldives islands, in the Indian ocean, two thirds of all jobs depend on tourism.

But the damage covers fishing, farming and businesses too, with hundreds of thousands of buildings and small boats destroyed by the waves.

more...