#Don'tForgetPuertoRico
 
 

It took Hurricane Maria 12 hours to pass over Puerto Rico. 

The recovery will take decades.

 

 
 


Hurricane Maria created one of the worst economic crises in decades

                                Source:  Solomon Hsiang and Trevor Houser / New York Times

                              Source: Solomon Hsiang and Trevor Houser / New York Times

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Prior to Hurricane Maria, 44.3% of Puerto Ricans lived in poverty.
 

That number jumped to 52.3% after the storm pushing 290,000 people into poverty.

 

 

 


Maria could lower Puerto Rican incomes by as much as 21% over the next 15 years
 

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How a Hurricane Creates Poverty

After a hurricane of Maria's size many businesses are forced to close because they don't have electricity or their supply chain is disrupted.  For entrepreneurs this means weeks or in the case of Maria months without income. For workers this results in mass layoffs or less hours they can work. 

But this is just the beginning. Lower incomes means that people can't spend as much money which causes more layoffs and even lower incomes. The effects of this downward spiral can last years forcing hundreds of thousands of people into poverty in the process. 

Income data courtsey of Solomon Hsiang and Trevor Houser / New York Times

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40-60% of small businesses closed after Maria

FEMA estimates that after a disaster of this scale between 40 and 60 percent of small businesses are forced to close. 

A survey of 1,000 small businesses conducted by the Puerto Rico Science and Technology Trust shows that roughly 40% of small businesses didn't re-open after the hurricane.

Source: FEMA // PR Science and Technology Trust

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The tourism industry represents 7% of Puerto Rico's economy. It was amongst the hardest hit by Maria.

 
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Puerto Rico's economy is expected to shrink by 8% in 2018

 
                                Source:  The Economist

                              Source: The Economist

 
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All of this is exacerbating one of the worst migration crises since the Irish Potato Famine