Ivan cost US$3.5 billion.

A United Nations-related team brought to Cayman at the end of November has reported that the total impact of the disaster on the Cayman Islands by Hurricane Ivan was CI$2.8 billion (US$3.5 billion), reports Caribbean Net News (Dec. 10, 2004). This is much greater than the total hurricane season damage this year to Grenada, Jamaica, Dominican Republic and Bahamas combined. The report goes on to say that the total amount of damage and losses is equivalent to about 183% of Gross Domestic Product. The visiting team were members of ECLAC, The Economic Commission for Latin America and the Caribbean. The team found that the amount of damage is estimated at US$75,700 per person, the highest ever encountered by ECLAC. Over 80% of the impact reflects damage and destruction of assets, with housing the most significantly impacted.