The recent wildfires in the Los Angeles region have the potential to cause up to $250 billion in economic damage, potentially making this one of the worst natural disasters the United States has faced. This level of damage is comparable to the economic losses caused by Hurricane Katrina, when adjusted for inflation.
According to AccuWeather Chief Meteorologist Jonathan Porter, the total losses from these fires could account for as much as 4% of California’s Gross Domestic Product (GDP).
