Cyclone Alfred Damage Could Reach $2 Billion If It Makes Landfall: Credit Agency

Over 4.5 million people are in the path of the category 2 cyclone, the first tropical storm system to hit the region in 50 years.

Members of the SES inspect Tropical Cyclone Alfred on the Bureau of Meteorology (BOM) satellite view at the NSW SES Rhodes Headquarters in Sydney, Australia, on March 5, 2025. AAP Image/Bianca De Marchi

Cyclone Alfred has yet to make landfall, but the damage estimates are already arriving.

The cost from the category two system is estimated to be in the billions, with one finance analyst predicting a $2 billion (US$1.2 billion) damage bill.