I see damage, but what I see damaged doesn't look like "billions" in that part of the world to my uneducated eye.
You can't place a dollar value on the lives lost and many of those were probably tourists. What a horrible feeling to be swimming and all of a sudden pulled out toward the coral reefs that surround the islands. Must have felt like some major undertow!
Phuket, Thailand is one of the most beautiful locations on the planet. A very popular honeymoon destination listed in Conde Naste. It is also the location where "The Man with the Golden Gun" was filmed the James Bond movie - You might remember some of the breathtaking scenery in the movie.
That being said, Phuket alone host many 5 Star resorts and hotels that are right on the beach.
The damage in Phuket alone will be in the billions.