Australia’s wildfires continue, and local firms are reporting serious damages to their businesses. Resorts are shutting down, cheesemakers are having a difficult time trying to find milk supplies, and many other small and large companies struggle to survive amid the natural disaster that has taken the lives of 24 people at least.
According to the Insurance Council of Australia (ICA), so far, 5,850 fire-related insurance claims have been applied since November, with insured losses being estimated at the equivalent of 260 million US dollars. However, the full cost is still unknown as the bushfires are expected to continue in the coming weeks.
The fires have burnt over 6 million hectares of land,
especially in Victoria and New South Wales, destroying thousands of houses and
killing millions of animals.
In Victoria alone, which accounts for 30% of the country’s
milk production, fires have killed large numbers of livestock, affecting an
A$3.3 billion industry.
The tourism industry is another struggling sector. Aspen
Group, which manages tourist parks in several towns, said that the fires would
reduce its revenue by about A$500,000 ($347,250).
“Fire activity along the NSW south coast has been catastrophic with significant loss of life, housing and infrastructure,” the company said.
Besides damaging businesses, the wildfires might end up in a political crisis, as many Australians feel the government is not doing enough to stop the disaster.