Rajiv Biswas, Asia Pacific chief economist at business research firm IHS, said long-term reconstruction costs in Nepal using proper building standards for an earthquake zone could be more than $5 billion, or around 20 per cent of the country?s GDP.?With housing construction standards in Nepal being extremely low … the impact of the earthquake has been devastating based on initial reports,? he said in an early analysis of the likely damage.
In crowded Kathmandu, many buildings were flattened or badly damaged. Among the capital?s landmarks destroyed in the earthquake was the 60-m (200-ft) Dharahara Tower, built in 1832 for the queen of Nepal.