Estimation of Economic Costs of Flood Impacts of Typhoon “Crising” in Kabacan, North Cotabato, Philippines

Kabacan town in Mindanao, Southern Philippines, which is situated on the flood plain of Cotabato Province, has been heavily affected on flooding in the recent years. Flooding on February 2013 brought about by typhoon “Crising” had worsened as compared to previous flooding events in the area. This flood event has caused heavy damage to agriculture, and economy of the town. The economic impacts of February 2013 flooding was evaluated and monetized. Valuation techniques comprised of clean-up costs method, crop damage and loss of foregone income was used to estimate the economic costs of flooding. Economic costs comprised of loss of income from rice production, loss of income from other source, clean-up costs and government spending were reached up to Php20, 451,247.49. Findings of the study will be beneficial to the Local Government of Kabacan, particularly to the Municipal Disaster Risk Reduction and Management, Municipal Agriculture Office and to the Climate Change Commission as flooding is one of the major concerns of Climate Change