The economic ramifications of climate change are both immediate and long-term. These include:
Damage to Infrastructure
Flooding, storms, and sea-level rise can cause significant damage to buildings, roads, and utilities, requiring costly repairs and adaptation measures.
Agricultural and Fisheries Disruption
As mentioned in the social impacts, disruptions to agriculture and fisheries affect not only food availability but also the economies dependent on these sectors.
Tourism Industry
Regions that rely on tourism may suffer as climate change affects natural attractions and increases the frequency of extreme weather events, deterring visitors.
Costs and Investments
Governments and businesses must invest in adaptation and mitigation strategies to protect assets and communities, which can be a significant economic burden.