Market
Estimated economic damage in Vanuatu by Jan 31, 2025?
2
Resolution / Starting Odds
Less than $50 million • 25%
$50 million to $100 million • 25%
$100 million to $200 million • 25%
More than $200 million • 25%
Official reports from Vanuatu government or international economic assessments
Story
Magnitude 7.4 Earthquake Strikes Vanuatu, 7.3 Magnitude Recorded, Tsunami Warning Issued
Dec 17, 2024, 02:02 AM
A powerful earthquake with a magnitude of 7.4 struck 55 kilometers west of Port-Vila, Vanuatu, on December 17, 2024, at approximately 12:47 PM local time. The U.S. Geological Survey confirmed the earthquake, which has led to warnings of potential tsunami waves in the region. In addition, a magnitude 7.3 earthquake was reported in the same vicinity, further raising concerns. The seismic activity has prompted alerts from various agencies, including the issuance of tsunami warnings due to the hazardous nature of the waves expected following the earthquakes. Reports indicate that the earthquakes occurred shortly before 1:50 AM UTC, with the 7.4 magnitude quake being the most significant event. The region is currently on alert as authorities monitor the situation and assess potential impacts.
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More than $1 billion • 25%
$100 million to $500 million • 25%
$500 million to $1 billion • 25%
Less than $100 million • 25%
$100 million to $500 million • 25%
Less than $100 million • 25%
$500 million to $1 billion • 25%
More than $1 billion • 25%
Building collapse • 25%
Other • 25%
Infrastructure damage • 25%
Landslides • 25%
0-2 aftershocks • 25%
More than 8 aftershocks • 25%
6-8 aftershocks • 25%
3-5 aftershocks • 25%
Aftershocks • 25%
Building Collapse • 25%
Other • 25%
Tsunami • 25%
Less than €100 million • 25%
€250 million to €499 million • 25%
€500 million or more • 25%
€100 million to €249 million • 25%
All report similar damage • 25%
French Embassy • 25%
U.K. Embassy • 25%
U.S. Embassy • 25%
Other • 25%
United Nations • 25%
World Bank • 25%
Asian Development Bank • 25%