In the United States, the two most recent largest wildfires that ravaged Los Angeles County are estimated to have caused total property and capital losses of as much as 164 billion dollars. The report published recently by the University of California, Los Angeles (UCLA) suggests total property and capital losses caused by the Palisades and Eaton fires could range between 95 billion dollars and 164 billion dollars.
The report, authored by UCLA Anderson Forecast economists Zhiyun Li and William Yu, predicts a 0.48-percent loss in county-level GDP for 2025, amounting to approximately 4.6 billion dollars, and a total wage loss of 297 million dollars for local businesses and employees in the affected areas.
