ABSTRACT
Natural disasters have been increasing in frequency and magnitude over decades. Economic losses also have been increasing; however, loss of life and injury have been fairly less due to huge investment in early warning systems. It is also being observed that besides the increase in hydro-metrological disasters, climatological disasters are on increase over a decade. It refers to an increase in climate change-triggered hazards such as an increase in sea level, fire incidents, melting of glaciers, flash floods, and so on. Such hazards are to be addressed throughout human history. Disasters, whether natural or human-induced are common phenomena around the globe. Disasters continue to occur and the same is constantly increasing in its magnitude and frequency impacting the economy globally for multivariate reasons. Globalization and industrialization have led to consequences of the destruction of flora and fauna. Scholars argue that geographical location is less responsible than increasing settings of technological and industrial development which causes threats to the environment. The impact of disaster is more in underdeveloped and developing countries as compared to developed countries where population density is relatively much higher. Losses in terms of economy, human and cultural are many times higher in developing countries which are more vulnerable and technologically and resource-wise at a disadvantageous position.
