The cost of not being prepared for volcanic eruptions

Population growth, technological dependence, and global interconnectedness amplify the economic impact of volcanic hazards. Yet, few studies have explored the direct and indirect economic costs associated with future volcanic eruptions for modern society. This project looks at the economic costs of volcanic eruptions across Volcanic Explosivity Index (VEI) levels. Using a case study approach, it investigates how specific variables, such as eruption size, hazard type, exposure, and sectoral vulnerabilities, drive economic impacts to key sectors, commodities and supply chains. The findings will provide insights into economic vulnerabilities to volcanic hazards and contribute to policy-relevant action.