TIẾNG VIỆT Ho Chi Minh City could suffer up to $1bln infrastructure damage from flooding in 2050
A man trying to escape a flooding street in Ho Chi Minh City's Binh Thanh district after a heavy rain on August 6. Photo: Huu Khoa / VnExpress
The city could face a knock-on costs from flooding ranging between $1.5 billion and $8.5 billion, warned the report which stated that Southeast Asia could potentially face more severe consequences of climate change than other parts of the world.
The firm highlighted some of the potential climate hazards that countries in Southeast Asia face. They were referred to as “Emerging Asia” in the report, and consist of Cambodia, Indonesia, Laos, Malaysia, Myanmar, the Philippines, Thailand and Vietnam.
Countries in the region are set to experience an increase in heat and humidity. By 2050, in an average year anywhere between 8% and 13% of GDP could be at risk in those countries due to rising heat and humidity.
Asia as a region faces hazards including flooding, drought, severe typhoons as well as conditions of rising heat and humidity. Asian countries with lower levels of per capita GDP would be at most risk and the poor will be hit hardest, the McKinsey report said.
Between $2.8 trillion and $4.7 trillion of GDP in Asia on average will be at risk annually from a loss of effective outdoor working hours because of hotter temperature and more humid environment by 2050, the report said.
