How Much Will Climate Change Drag Down the Economy?

How Much Will Climate Change Drag Down the Economy?

When Category 5 Hurricane Otis roared through Acapulco, Mexico, in October 2023, the city was left in ruins. Winds stripped facades from beachfront buildings and storm surge flooded lobbies. The storm killed at least 50 people and damaged 80% of hotels in the once-glittering resort town. Six months later, a Bloomberg reporter described “a grim scene,” with many buildings left abandoned and “swimming pools full of muck.” And residents were still working to bring tourists back. “If there’s no tourism, …