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Stanford researchers find rising seas can hurt local economies
https://news.stanford.edu/2019/02/15/rising-seas-mean-local-economies/February 15, 2019Stanford researchers find rising seas can hurt local economies
High-tide flooding resulting from climate change is already disrupting the economy of Annapolis, Maryland. As sea levels rise, the impacts are expected to get worse for coastal communities.
By Devon Ryan
Impacts from climate change are not always easy to see. But for many local businesses in coastal communities across the United States, the evidence is right outside their doors – or in their parking lots.
That evidence isn’t just present in the form of more frequent flooding. According to a new study published Feb. 15 in the journal Science Advances, it is also revealed as a financial price for business. Stanford graduate student Miyuki Hino and her colleagues found that downtown Annapolis, Maryland’s state capital, suffered a loss of 3,000 visits in 2017 due to high-tide flooding, which equates to a loss of somewhere between $86,000 and $172,000 in revenue.
“Small businesses in downtown Annapolis rely on visitors. By measuring the extent of the impact of flooding, we can understand the business case – how sea level rise is already impacting businesses’ experiences and profits,” said Samanthe Belanger, a co-author and Stanford MBA student at the time of the study.
…
https://dx.doi.org/10.1126/sciadv.aau2736 (Doesn't work yet.)
High-tide flooding resulting from climate change is already disrupting the economy of Annapolis, Maryland. As sea levels rise, the impacts are expected to get worse for coastal communities.
By Devon Ryan
Impacts from climate change are not always easy to see. But for many local businesses in coastal communities across the United States, the evidence is right outside their doors – or in their parking lots.
So-called nuisance flooding is more than a nuisance for coastal locations that rely partly on tourism. Significant business losses result in places like Annapolis, Maryland.
That evidence isn’t just present in the form of more frequent flooding. According to a new study published Feb. 15 in the journal Science Advances, it is also revealed as a financial price for business. Stanford graduate student Miyuki Hino and her colleagues found that downtown Annapolis, Maryland’s state capital, suffered a loss of 3,000 visits in 2017 due to high-tide flooding, which equates to a loss of somewhere between $86,000 and $172,000 in revenue.
“Small businesses in downtown Annapolis rely on visitors. By measuring the extent of the impact of flooding, we can understand the business case – how sea level rise is already impacting businesses’ experiences and profits,” said Samanthe Belanger, a co-author and Stanford MBA student at the time of the study.
…
https://advances.sciencemag.org/content/5/2/eaau2736
(Shocking, I know…)
1 replies
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