Heavy traffic begins to back up on Interstate 275 South as residents evacuate St. Petersburg, Florida, ahead of Hurricane Milton, U.S., October 7, 2024.
Hurricane Milton's once-in-a-century potential could cause damage of more than $50 billion, with the potential to leave behind devastation approaching $175 billion or more in a worst-case scenario, according to leading Wall Street analysts.
That would be on top of the carnage already left behind by Hurricane Helene, posing a potential record-breaking path of wreckage.
"A 1-in-100 year event is estimated by some to result in $175 [billion] in losses for landfall in the Tampa region, and $70 [billion] in losses in the [Fort] Myers region."
The extent of the potential is hard to pin down and will depend on timing and location, with a landfall closer to Fort Myers being less costly.
Persons:
Hurricane Milton's, Hurricane Helene, Jefferies, Yaron Kinar, Myers, Fort Myers, Hurricane Ian, Ian
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Locations:
St, Petersburg , Florida, Hurricane Milton, U.S, Tampa, Fort Myers