As fires continue to rage across Southern California, leaving parts of Los Angeles reduced to ashes, the human and economic toll of the blazes continues to rise. So far, the fires have killed at least 24 people, officials said on Sunday. Eight of the victims died in the Palisades fire and 16 in the Eaton fire, according to updated information from the County of Los Angeles Medical Examiner.
According to preliminary estimates from AccuWeather, the total damage and economic loss associated with the Southern California wildfires could amount to $135 to $150 billion, making it one of the most costly wildfires and natural disasters in recent U.S. history. As opposed to other sources like NOAA, AccuWeather’s estimates include direct and indirect costs associated with natural disasters to provide a complete picture of the adverse impact of such events. Aside from direct effects such as property damage and infrastructure loss, the estimates also include indirect economic losses, for example from power outages or other supply chain disruptions.
That’s why, to put the L.A. wildfires into context, AccuWeather’s damage estimate should only be compared to other AccuWeather estimates, which followed the same methodology. As our chart shows, the economic impact of the current fires is already expected to exceed the damages from entire 2020 and 2021 Western U.S. wildfire seasons, while trailing the 2018 wildfire season, which was by far the costliest and deadliest to date, with estimated economic losses of $400 billion and more than 100 deaths.
“These fast-moving, wind-driven infernos have created one of the costliest wildfire disasters in modern U.S. history,” AccuWeather Chief Meteorologist Jonathan Porter said in a press release. “Hurricane-force winds sent flames ripping through neighborhoods filled with multi-million-dollar homes. The devastation left behind is heartbreaking and the economic toll is staggering.”
While firefighters made some progress in their efforts to contain the blazes over the weekend, the National Weather Service issued Particularly Dangerous Situation (PDS) Red Flag Warnings for Santa Barbara, Ventura and Los Angeles Counties from Monday night through Wednesday noon, as strong winds with gusts of up to 70mph could further fan the flames, creating extremely dangerous fire weather conditions.
