An earthquake would cost BC economy billions: study
Posted October 29, 2013 10:34 am.
This article is more than 5 years old.
VANCOUVER (NEWS1130) – Is Canada prepared for “the big one?” A new study says it isn’t.
A 9.0-magnitude earthquake near Vancouver would cost the economy about $75 billion, according to new research. Existing infrastructure would bear the majority of losses; damage to ports and other business hubs would mean the economy as a whole would be shot.
Dr. Jayanta Guin of AIR Worldwide says the Lower Mainland would feel the most intense shaking.
“It’s also going to trigger a tsunami, a liquefaction and a landslide,” he explains. “Because of its sheer magnitude, the intensity will be felt all throughout the province of British Columbia.”
Guin also says while Vancouver would be largely shielded from a tsunami, the western coast of Vancouver Island would see a lot of damage.
The study was done for the Insurance Bureau of Canada, which is calling for a national earthquake strategy.
