Coastal flood damages in Asia-Pacific could reach $199b annually by 2050: ADB

A new report from the Asian Development Bank (ADB) warns that annual coastal flood damages in Asia and the Pacific could surge more than sixfold to $172 billion-$199 billion by 2050, and nearly twentyfold to $520 billion-$739 billion by 2100, if adaptation measures are not implemented. This is a dramatic increase from the current $27 billion in annual damages. The report highlights that the region's coastlines, which generate $7 trillion in economic output, are increasingly vulnerable to rising sea levels and coastal hazards. However, investing $9 billion-$19 billion annually in coastal protection could prevent $178 billion-$360 billion in damages each year, demonstrating that such investments could yield benefits up to 20 times greater than their cost. The ADB emphasizes the critical need for long-term, adaptive solutions, as over 400 million people in the region live within 10 kilometers of the sea, and major cities like Bangkok and Mumbai could see centennial floods become annual occurrences without intervention, threatening vital economic centers and atoll nations with severe GDP impacts.