September 26, 2024
BANGKOK – As climate change intensifies, experts warn that the long-term economic impact could be even more serious.
The flooding, exacerbated by the El Niño and La Niña weather patterns, has disrupted agriculture, fisheries, livestock, and business sectors across the affected regions. The chamber has identified Chiang Rai, Phayao, Sukhothai, Nong Khai, and Nakhon Phanom as the provinces hit hardest by the floods.
Cost breakdown by province:
- Chiang Rai – 6.412 billion baht
- Phayao – 2.689 billion baht
- Sukhothai – 2.265 billion baht
- Nong Khai – 2.030 billion baht
- Nakhon Phanom – 1.576 billion baht
Sanan Angubolkul, chairman of the chamber, expressed deep concern about the potential for further damage, especially given the ongoing risk of additional flooding in many areas. He urged the government to develop a comprehensive plan to mitigate the impact of future water surges, particularly in the Central region and Bangkok.
Ath Pisavanich, an international economics expert, emphasised the human-caused nature of climate change and its devastating consequences. He noted that severe flooding events are occurring worldwide, from Europe to Africa, as a direct result of global warming.
Thailand’s commitment to achieving net-zero greenhouse gas emissions by 2065 is a crucial step in addressing the climate crisis. However, the country faces growing pressure to accelerate its efforts to keep pace with other nations, such as Vietnam, which has set a more ambitious target of 2030.
Wisit Limluecha, vice chairman of the chamber, warned that the economic impact of the floods could continue to rise if the situation does not improve. He estimated potential damage of up to 50 billion baht, underscoring the urgent need for effective flood mitigation measures.
Krungsri Research has identified several regions at high risk of flooding, including the North, Central, and the lower North. The research firm estimates that the floods could cause property damage of 3.1 billion baht and agricultural losses of 43.4 billion baht.
