What economical effects did cyclone Tracy have on Darwin and its surroundings?

Cyclone Tracy, which struck Darwin on Christmas Day in 1974, had devastating economic effects on the city and its surroundings. The cyclone caused extensive damage to infrastructure, homes, and businesses, leading to an estimated cost of around $837 million in 1974 dollars. The destruction resulted in a significant loss of jobs and a decline in population as many residents relocated. The recovery efforts eventually spurred economic redevelopment, but the initial impact left a lasting mark on the region's economy.