With estimates of at least 110,000 buildings damaged or destroyed and 20,000 fatalities in the March 11 earthquake and tsunami, rebuilding Japan will be a long and expensive undertaking, dwarfing the financial impact of the 1995 Kobe quake disaster. The World Bank estimates dam- age at up to $235 billion, 4% of Japan’s gross domestic product (GDP), compared with $100 billion for Kobe, or 2% of GDP. Private insurers could pay up to $33 billion to cover the destruction, compared with $783 million for Kobe, according to the bank. Photo: Kit Miyamoto/Miyamoto International U.S. engineer Miyamoto surveys coastal damage. Related
The growing need to collect, store and analyze the huge volumes of data collected from infrastructure project stakeholders is generating a new growth area for construction-sector firms, IT vendors and professionals.