Economic Impacts of Tropical Cyclone‐Induced Multiple Hazards in China

Abstract Tropical cyclones (TCs) are known to bring heavy rainfall, strong winds and severe storm surges simultaneously, resulting in tremendous damage beyond the effects of a single hazard. However, compound impacts TC multi‐hazards remain unexplored macroeconomic assessments. Here, we provide empirical evidence on multi‐hazard economic losses for first time. We used national panel provincial output China over 2000–2020. Our results show that total impact severest can represent up 14 times value merely winds. Specifically, vast majority (over 80%) combined is caused by precipitation, with wider greater than surges. Furthermore, high‐latitude interior regions more vulnerable TCs due interactions temperature variability wind intensity variability. High‐income areas secondary industries respond markedly all hazards, precipitation significant sectors. findings new implications socio‐economic mechanisms multiple hazards valuable insights into design climate policy hazard risks.