Japan’s Earthquake Warning: $1.81 Trillion in Damages Possible

Japan is at risk of a major earthquake, which could cost the country up to $1.81 trillion. This quake could lead to huge tsunamis, the falling of many buildings, and might tragically kill around 300,000 people, according to a new government report. The total damage could reach 270.3 trillion yen, nearly half of what Japan makes in one year. This new estimate rose from an earlier prediction because of inflation and updated information about how areas might flood.

Japan is one of the most earthquake-prone places in the world. Experts believe there is an 80% chance of a big earthquake, ranging from 8 to 9 on the Richter scale, happening in a dangerous region called the Nankai Trough. If the worst happens, 1.23 million people might need to leave their homes, which is about 10% of Japan’s population. The report warns that as many as 298,000 people could die if the quake strikes late at night during winter when people are sleeping.

The Nankai Trough is located off Japan’s southwest coast and stretches about 900 km (600 miles), where two tectonic plates meet. These plates build up pressure over time, making a massive earthquake likely to happen every 100 to 150 years. Last year, Japan even issued its first megaquake warning, saying there was a greater chance of a big quake after a significant tremor occurred nearby. A similar earthquake in 2011 caused a devastating tsunami and nuclear plant disaster, resulting in over 15,000 deaths.