Values at Risk

Vulnerability refers to values at risk for natural hazards. It includes human lives, property, societal functions, and indirect effects on the economy. Since beach erosion does not happen suddenly and unexpectedly people can be evacuated, why the vulnerability primarily concerns property and the economy. Some figures from the U.S. can illustrate.

Property
The value of coastal real estate in Florida is $100 billion. The value of the insured property in the coastal counties from Texas to Massachusetts exceeds $6.4 trillion according to the Insurance Institute (IIPLR).

Economy
Beaches contribute $1.2 trillion to the US GDP. Florida has 1320 km of beaches, which generates tourism that has a $41.6 billion annual impact on the state's economy, or $31.5 million per kilometer beach. In Miami Beach alone, tourists spend $4.4 billion per year. Most of this, and 25% of the value of coastal real estate, depends on the presence of the beach. The values are from this Florida Atlantic University report.