It was confirmed that 15,889 deaths occurred and 2,601 people were still missing after the event. Of the victims, 14,308 drowned, which demonstrates the heavy impact of the tsunami on people's lives. The destruction of homes left large numbers of people displaced. This resulted in a large number of displaced people, which in January 2012 amounted to 341,411. The tsunami also had a negative impact on the economy. In 2011, Japan estimated that the cost of repairing direct damage alone was $300 billion. The Japanese economy suffered as a result of the event, and its real GDP contracted by 3.7% in the January-March quarter. Many businesses suffered due to the disaster and a total of 644 businesses went bankrupt due to the disaster