• Sat. Apr 20th, 2024

Rising Temperatures Threaten Singapore’s Economy: Study Reveals $1.64 Billion Lost by 2035

BySamantha Jones

Apr 3, 2024
Singapore’s economy could suffer losses of more than $1.5 billion due to heat strain

A study by the National University of Singapore has shown that Singapore’s economic losses due to heat stress could almost double to $1.64 billion in 2035 compared to pre-pandemic levels in 2018. This decline in productivity, caused by adverse environmental conditions such as working under the sun or being exposed to heat from machinery, is expected to worsen in the coming years, with an anticipated fall of 14% in 2035.

Workers who are exposed to extreme temperatures face higher productivity losses, with each hot day resulting in a median income loss of around S$21. Project HeatSafe is the first major study in Singapore and the wider region to analyze the impact of rising temperatures on productivity and health at both individual and macroeconomic levels.

Singapore is warming at a rate twice as fast as the rest of the world, with the UV index reaching extreme levels recently. This has significant implications for productivity and health in the country. The extreme heat exposure not only affects cognitive capacity and physical exertion but also poses a risk to the country’s already low fertility rate. As global temperatures continue to rise, countries worldwide will need to address the economic and health impacts of extreme heat.

By Samantha Jones

As a dedicated content writer at newszxcv.com, I bring a passion for storytelling and a keen eye for detail to every piece I create. With a background in journalism and a love for crafting engaging narratives, I strive to deliver informative and captivating content that resonates with our readers. Whether I'm covering breaking news or delving into in-depth features, my goal is to inform, entertain, and inspire through the power of words. Join me on this journey as we explore the ever-evolving world of news together.

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