Mindanao
is known to be a typhoon free area. However, simultaneous weather disturbances
occur this 2013. Three storms have
already hit including Tropical Depression Crising which made landfall over
Davao del Sur at 1 p.m. on Feb. 19, 2013. This
is normally an unexpected event that alarmed and affected the residents in
Mindanao. Various things change for the possible circumstances that the typhoon
can bring.
Indeed, Philippines is composed of concerned citizens and different institutions that are generous uniting together to help the victims recover from the tremendous event. They give relief goods, other commodities and in any kind of donations that the victims needed to sustain the loss they've encountered.
In the scope of economics, it directly and indirectly
contributes to consumption. It gets high for the demand in the purchased goods. People are also increasingly using the commodities found in the CPI
basket. In transportation, people are urged to ride vehicles rather than walk
because of the weather. In Medical care, medicines and the like are used for
the treatment.
On the other side, many victims suffered and
died. The family felt pain and sorrow not just losing their loved ones but
their damaged houses, and different properties. Climate change also contributes
to the change in the lifestyle of the people. There are also instances that
more diseases and illnesses are brought by it.
Each destructive typhoon costs us about 2% of our GDP, and the reconstruction a further 2%, which means we lose nearly 5% of our economy every year due to storms. We have received no climate finance to adapt or
to prepare ourselves for typhoons and other extreme weather we are now
experiencing.
This is why wobbliness of investor’s
confidence is more likely the reason why investments are low especially in times
of hazardous events happen. There is a little assurance and probability that the
investments they invest will grow. As we all know in these cases, people just
stay in their homes, saving more and spending less for the possible outcomes
that might come along the way.
Nevertheless, we can’t
really predict the hazardous events that will come. With the different effects
that are brought to our lives and the economy, each and everyone must be alert and well
prepared to face the possible consequences and deal with it.
