AccuWeather Report: $500 billion in damage and economic loss estimated after destructive and unprecedented hurricane season
AccuWeather Global Weather Center – Nov. 25, 2024 – As the record-shattering 2024 Atlantic hurricane season comes to a close, AccuWeather experts estimate that the five hurricanes and one unnamed subtropical storm that made landfall in the United States caused an estimated $500 billion in total damage and economic loss.
“This has been a tremendously expensive and devastating hurricane season,” said AccuWeather Chief Meteorologist Jon Porter. “Coastal communities were devastated by wind and storm surge damage. Catastrophic flooding ripped apart mountain towns hundreds of miles away from the shore. Tornadoes damaged homes and businesses more than 1,000 miles away from where Hurricane Beryl made landfall. The 2024 hurricane season will be remembered for shattering records and causing approximately $500 billion in total damage and economic loss. For perspective, this would equate to nearly 2 percent of the nation’s gross domestic product. As we first forecast in late February, ahead of all other known sources, this turned out to be an explosive, supercharged hurricane season that was fueled by extremely warm water temperatures linked to climate change.”
More than 230 deaths have been directly linked to tropical storm and hurricane impacts in the U.S. this year. AccuWeather experts have long said and support the findings of recent research that each hurricane can contribute to 7,000-11,000 excess deaths within 15 years of the storm.
“The damage and suffering from hurricanes and extreme weather [are] often much greater than what is initially reported and what insurance typically covers. The long-term effects of weather disasters are harmful to longevity. People experience trauma, they lose their possessions, they end up with less money to rebuild, pay for health expenses and eventually retire,” said AccuWeather Founder and Executive Chairman Dr. Joel N. Myers.
AccuWeather’s exclusive estimates for the total damage and economic loss from weather disasters account for long-term and residual impacts that many other damage estimates do not consider, including long-term medical costs, uninsured losses, job and wage losses, crop losses, infrastructure damage, business and supply chain disruptions, travel delays, airport closures, evacuation and relocation costs, long-term tourism impacts, as well as emergency management and government expenses for cleanup and recovery efforts.
“As far back as 2018, we have said that many hurricane damage estimates are far too low. They often only focus on insurance and what's covered; that could be as little as 5 or 10 percent of the total economic loss, not to mention the impact of job losses and long-term health care costs,” Myers explained. “Businesses fail, jobs are lost, people move away, houses are destroyed, and all of that is not covered by insurance. That money is gone forever, and it has a long-term effect on communities.”
The Exploding Cost of Hurricane Impacts in America
AccuWeather experts say the 2024 Atlantic hurricane season was one of the costliest on record in modern history.
AccuWeather estimates that the total damage and economic loss from tropical storm and hurricane impacts in the United States may surpass $500 billion for the year.
- AccuWeather’s preliminary estimate of the total damage and economic loss from Hurricane Beryl in the United States is $28-32 billion.
- AccuWeather’s preliminary estimate of the total damage and economic loss from Hurricane Debby in the United States is $28 billion.
- AccuWeather’s preliminary estimate of the total damage and economic loss from Hurricane Francine in the United States is $9 billion.
- AccuWeather’s preliminary estimate of the total damage and economic loss from an unnamed storm with tropical storm impacts in North Carolina is $7 billion.
- AccuWeather’s preliminary estimate of the total damage and economic loss from Hurricane Helene in the United States is $225-250 billion.
- AccuWeather’s preliminary estimate of the total damage and economic loss from Hurricane Milton in the United States is $160-180 billion.
The staggering damage and economic loss estimates from AccuWeather follow a global trend. A report issued by the International Chamber of Commerce suggests that extreme weather and impacts linked to climate change have cost the global economy more than $2 trillion in the last decade.
Risks to Public Health & Hospitals
AccuWeather hurricane experts say the trend of rapidly intensifying storms, as well as hurricanes bringing intense impacts farther inland, is increasing the risk to public safety and straining some health care providers.
Dr. Jonathan Tan, a pediatric anesthesiologist at Children's Hospital Los Angeles and partner with the AccuWeather Climate Impact Program, says children can be more susceptible to the health impacts of hurricanes and extreme weather disasters than adults.
“Young children are uniquely vulnerable to the impacts of hurricanes and weather disasters due to their physiological, developmental and behavioral characteristics. Unlike adults, children are still growing, which makes their bodies more sensitive to environmental toxins and contaminants like those found in floodwaters or polluted air. Their immature immune systems leave them less equipped to fight off infections, and their smaller body size increases the risk of dehydration and temperature dysregulation,” Tan explained. “Children rely heavily on adults for their physical and emotional safety, making disruptions to caregiving environments particularly harmful. These vulnerabilities, combined with the potential for lasting psychological stress, highlight the critical need for prioritizing children's safety and well-being in disaster preparedness and response."
The trend of stronger hurricanes and more multi-billion-dollar weather disasters across the nation is also taking a toll on some healthcare workers and medical facilities.
“Hospitals must be prepared to address the increasing impacts of extreme weather and climate change,” Tan emphasized. “There is still significant work to be done to protect our healthcare infrastructure, patients and frontline workers from these growing challenges. Communities with limited access to medical resources are especially vulnerable and may face prolonged public health consequences after weather-related disasters. We need a deeper understanding of how storms and their aftermath affect our patients—not just through infections from contaminated floodwaters or exposure to extreme heat, but also in terms of the psychological and emotional toll of surviving such events. Building resilience in healthcare systems is critical to safeguarding public health in the face of these evolving threats.”
Record-shattering Hurricane Season
AccuWeather Lead Hurricane Expert Alex DaSilva says the 2024 Atlantic Hurricane season defied climatology and obliterated records with storms like Beryl which was the earliest Category 5 hurricane on record in the Atlantic Basin.
“The combination of extremely warm water temperatures, a shift toward a La Niña pattern and favorable conditions for development created the perfect storm for what AccuWeather experts called ‘a supercharged hurricane season,’” DaSilva said. “This was an exceptionally powerful and destructive year for hurricanes in America, despite an unusual and historic lull during the climatological peak of the season.”
AccuWeather Senior Meteorologist and Climate Expert Brett Anderson says our warming atmosphere and oceans contributed to the growing trend of early-season storms, late-season storms and rapidly intensifying hurricanes.
“Water temperatures across much of the Atlantic, Gulf of Mexico and the Caribbean reached record territory this summer. We’ve never seen such warm water reach depths of hundreds of feet below the surface,” Anderson said. “That extra energy acts like rocket fuel for storms. The trend of rapidly intensifying storms is being boosted by our warming oceans and climate. We’re also seeing the opportunity for tropical storm and hurricane development extending before and after the official hurricane season as our oceans continue warming.”
Hurricane Beryl was the first storm of the season that shattered records when it became the first major hurricane to form east of the Lesser Antilles in the month of June. It later developed into the earliest Category 5 hurricane on record in the Atlantic basin on July 16. Beryl also went down in the history books as the fastest-moving Category 5 hurricane. Beryl was later blamed for dozens of destructive tornadoes along a nearly 1,200-mile-long path from Texas to upstate New York.
Hurricane Helene will be remembered as the second-deadliest tropical storm to hit the contiguous United States in 50 years, with more than 200 deaths reported and counting. Hurricane Katrina killed more than 1,200 people in 2005. Helene also shattered storm surge records in the Big Bend region of Florida. The tidal gauge at Cedar Key reached 9.3 feet, which surpassed the record of 6.9 feet set during Hurricane Idalia in 2023. Helene unleashed an estimated 42 trillion gallons of rainfall in the U.S., which is equivalent to the flow of Niagara Falls for 1.75 years.
Hurricane Milton was the third storm to make landfall in Florida this year, tying the all-time record for landfalling storms in the state. Milton’s tropical rainbands produced “an extremely unusual and intense tornado outbreak across Florida,” AccuWeather Chief Meteorologist Jon Porter said. At least 45 tornadoes were confirmed after Milton. Hurricane Ivan in 2004 holds the record with 120 confirmed tornadoes linked to a single hurricane.
Records show that 178 tornadoes in the U.S. were linked to tropical storms and hurricanes this year, ranking 2024 in the top three years for hurricane-spawned tornadoes since 1995.
Five hurricanes made landfall in the contiguous U.S. this year. Only three previous seasons since 1850 experienced more hurricane landfalls in a single year. There was also an unnamed storm along the Southeast coast, if eventually named in a post-season analysis by the National Hurricane Center, would raise the landfall count to six. AccuWeather hurricane experts feel the storm should have been designated a subtropical storm as it occurred and suspect the NHC will agree in the government’s post-season analysis.
The 2024 Atlantic hurricane season ranks in the top five for the most hurricanes to develop and the most U.S. hurricane landfalls since 1850.
The 2024 hurricane season will also rank in the top 10 for the number of major hurricanes and named storms to develop.
How AccuWeather Forecasts Helped More Families and Businesses Prepare
AccuWeather hurricane experts accurately predicted a “supercharged”, “blockbuster”, above-average and impactful hurricane season months in advance and consistently provided more advanced notice of hurricane threats before the National Hurricane Center and other known sources.
AccuWeather 2024 U.S. Hurricane Season Forecast:
AccuWeather was the first known source on Feb. 20 to issue a special report stating that explosive development could occur during a blockbuster hurricane season and that the second half of the season could be very active with higher risk of direct impacts along the Gulf Coast. This Special Report was followed by a seasonal forecast on March 27 warning of a shift toward a La Niña pattern, exceptionally warm ocean temperatures and other conducive factors that would contribute to a “supercharged” and “explosive” hurricane season.
AccuWeather forecast 20-25 named storms, eight to 12 hurricanes, four to seven major hurricanes and four to six direct impacts on the U.S.
Increased risk of rapid intensification
AccuWeather hurricane experts issued an alert on May 22 warning of an increased risk of rapid intensification due to record sea surface temperatures, leaving people with less time to prepare for potentially life-threatening impacts.
Seven storms rapidly intensified this hurricane season, which is defined as a storm that gains wind intensity of at least 35 mph in 24 hours or less. Beryl, Helene, Isaac, Kirk, Milton, Oscar and Rafael all intensified rapidly.
Beryl, Milton, Helene, Francine and Rafael reached major hurricane status, which is Category 3 strength or higher. A Category 3 hurricane has maximum sustained winds of 111-129 mph on the Saffir-Simpson Hurricane Wind Scale.
Historic lull during the peak of hurricane season
Following an unusually quiet stretch during August and Labor Day weekend without a named storm in the Atlantic basin in 26 years, AccuWeather was the first, and only, known source to more accurately reduce the hurricane season forecast on Sept. 3.
AccuWeather forecasts verified
As the season comes to a close, AccuWeather’s 2024 Atlantic Hurricane Season forecast has been verified as one of the most accurate forecasts.
The National Hurricane Center reported 18 named storms, 11 hurricanes and five major hurricanes.
Five hurricanes made landfall in the United States, along with one unnamed storm in North Carolina.
“AccuWeather is the best and the most accurate source of weather forecasts and warnings in the world. We prove it storm after storm. AccuWeather was the first widely known source to issue a hurricane season forecast in March, and it was incredibly accurate,” said Myers. “I commend our meteorologists, especially our expert long-range team who accurately predicted the number of tropical storms, hurricanes, U.S. impacts and that most of the storms would impact the Gulf Coast. We provided more advance notice than any other source in most cases, including the National Hurricane Center, which is very gratifying because it means more lives saved and more people are prepared.”
Since its founding in 1962, AccuWeather has a legacy of saving tens of thousands of lives and helping families and businesses prevent tens of billions of dollars in damage.
Myers says AccuWeather forecasts for life-threatening storm surge impacts in the Windward Islands and along the U.S. Gulf coast and alerts about the risk of catastrophic inland flooding in the southern Appalachians saved more lives this year.
“Early forecasts and advance notice can help save lives. The sooner you start preparing, the better off you will be,” said Myers. “You can't stop the disaster, but you can use the best information, get early warnings and start preparing before the storm hits to minimize the damage and risk.”
AccuWeather Case Studies
AccuWeather hurricane experts say there is a long track record of accurate forecasts and advance notice that helped families, businesses, emergency officials and government leaders better prepare for impacts this hurricane season.
An analysis of forecasts from AccuWeather, the National Hurricane Center and other sources for Beryl, Debby, Ernesto, Francine, Helene and Milton found:
- AccuWeather hurricane track forecasts were 8.1% more accurate than the NHC and all other known sources.
- AccuWeather hurricane intensity forecasts were 3.2% more accurate than the NHC and all other known sources.
- AccuWeather issued a forecast track an average of 19 hours ahead of the NHC and all other known sources, providing more advance notice and time to prepare.
- AccuWeather hurricane landfall location forecasts were 6.4% more accurate than the NHC and all other known sources.
- AccuWeather hurricane landfall intensity forecasts were 30.2% more accurate than NHC and all other known sources.
- AccuWeather hurricane landfall timing forecasts were 11.1% more accurate than NHC and all other known sources.
More than 100 times every year, AccuWeather has been documented as providing more accurate and more advance notice of significant and extreme weather events that impact businesses and threaten people’s health, welfare and lives. AccuWeather is proven to be the most accurate source of weather forecasts, warnings and communication to drive the best decisions.
Alberto
AccuWeather was the only source to issue a forecast track for the storm on June 16, a full day before the National Hurricane Center and all other known sources issued their first track. When analyzing Alberto's entire lifespan, AccuWeather's track and intensity forecasts were more accurate than any other known source and were 7% and 4% more accurate than the NHC respectively.
Beryl
AccuWeather was the only source to issue a forecast track for the storm on June 27, 28 hours before the National Hurricane Center and all other known sources issued their first track. When analyzed for Beryl's entire lifespan, AccuWeather's track for Beryl was 12% more accurate than any other known source, and AccuWeather's average U.S. landfall point forecast was 11% more accurate than the National Hurricane Center.
As a result of AccuWeather exclusively issuing seven-day track and intensity forecasts and initiating forecasts well in advance of the National Hurricane Center and all other known sources' five-day track and intensity forecasts, AccuWeather provided, on average, 61 hours more advance notice on the forecast location and intensity of Beryl than the NHC and all other known sources.
AccuWeather provided the earliest and most accurate forecast of significant rainfall in southeastern Texas, being the first source to forecast widespread 8-12 inches. AccuWeather issued a storm surge forecast 12 hours before the NHC and all other known sources.
As Beryl moved inland, AccuWeather was the first and only known source to boldly and correctly predict 4-8 inches of rain would fall across northern New England. Other known sources, including the National Weather Service, predicted just 2-4 inches of rainfall.
Hurricane Debby
AccuWeather issued a track and intensity forecast for the storm on Aug. 1, 18 hours before the National Hurricane Center issued its first track and intensity forecast. When analyzed for the entire lifespan of Debby, AccuWeather's track and intensity forecasts for Debby were more accurate than any other known source and were 6.5% and 8.5% more accurate than the NHC, respectively.
As a result of AccuWeather’s exclusive seven-day forecast track and intensity forecasts, AccuWeather provided an average of 43 hours more advance notice on the forecast location and intensity of Debby than the NHC and all other known sources.
Hurricane Ernesto
AccuWeather issued a track and intensity forecast for the storm 24 hours before the National Hurricane Center issued its first track and intensity forecast. AccuWeather's track forecasts for Ernesto were more accurate than any other known source and were 9.0% more accurate than the NHC.
Hurricane Francine
AccuWeather issued a track and intensity forecast on Sept. 7, 24 hours before the National Hurricane Center issued its first track and intensity forecast. AccuWeather was also the only source that consistently and most accurately predicted Francine would be a Category 2 hurricane on the Saffir-Simpson Wind Scale at landfall. The NHC and other known sources flip-flopped on Francine's predicted peak intensity, twice predicting a Category 2 before dropping it back to a Category 1.
AccuWeather’s average Louisiana landfall forecast intensity was 40% more accurate than the NHC. AccuWeather’s forecast of the storm’s winds averaged 1.3% more accurate as compared to the NHC.
Hurricane Helene
AccuWeather issued a track and intensity forecast on Sept. 16, 19 hours before the National Hurricane Center and all other known sources issued their first track and intensity forecast. AccuWeather used unique messaging starting on Sept. 25 to raise public awareness about a “once-in-a-generation” storm from eastern Georgia through the western Carolinas and southern Appalachians. AccuWeather was the only known source to warn that Helene "could cause a flooding disaster in some areas of the Southeast, especially in the higher terrain of northern Georgia, upstate South Carolina and western North Carolina." This language was not used by any known source to predict the magnitude of the disaster.
AccuWeather had a more accurate landfall forecast for Helene than any other known source. The AccuWeather intensity forecast was 52% more accurate than the NHC. The AccuWeather location forecast was 22% more accurate than the NHC.
Ten days before the storm developed, AccuWeather’s team of long-range experts, including Paul Pastelok and Joe Lundberg, correctly identified that late September would be an active time, with the Caribbean being at particular risk for development.
On Aug. 22, AccuWeather long-range experts and hurricane experts issued an alert about a “Supercharged September”, forecasting six to 10 named storms from late August through the month of September.
Hurricane Milton
AccuWeather was the first known source to sound the alarm about a developing storm that would impact Florida. On Sept. 27, AccuWeather was the only known source to consistently predict a tropical storm or hurricane would develop and track toward Florida. Other sources, including the NHC, flip-flopped, first predicting development then downplaying the risk before quickly reversing course.
On Sept. 29, nearly a week before Milton developed, AccuWeather was the only known source to say the storm “could bring damaging winds and flooding to Florida, including areas recovering from Helene” and that “rapid intensification is possible.”
AccuWeather issued a track and intensity forecast on Oct. 5, six hours before the National Hurricane Center. AccuWeather’s track forecast for the storm averaged 1.7% greater accuracy than the track forecast from the NHC. AccuWeather’s intensity forecast for the storm averaged 10% greater accuracy than the intensity forecast from the NHC. AccuWeather issued its first storm surge forecast for the Gulf Coast of Florida 41 hours before the NHC.
Tropical Storm Nadine
On Oct. 8, AccuWeather’s expert Long-Range Forecasting team accurately predicted that an area where Nadine developed could yield a tropical storm late in the week of Oct. 14. At the same time, the National Hurricane Center and all other known sources had no such area highlighted in their Tropical Outlook and did not do so until six days later, on Oct. 14.
AccuWeather issued its first track and intensity on Oct. 18, 21 hours before the NHC and all other known sources.
Hurricane Oscar
On Oct. 14, AccuWeather exclusively issued a track and intensity forecast for a tropical rainstorm that would become Tropical Storm Oscar north of the Greater Antilles on Oct. 19, five days in advance of the National Hurricane Center and any other known sources. At the same time, the NHC predicted only a medium chance of development.
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