April 21, 2024 11:33 pm
Singapore’s Economy Could Lose Over $1.5 Billion Due to Heat Strain

In Singapore, the rapid warming rate is causing extreme heat levels that are affecting both individual health and macroeconomic productivity. A recent study by the National University of Singapore revealed that heat stress has led to a decline in labor productivity across various economic sectors in the country, with an 11.3% decrease in average productivity in 2018. This trend is projected to worsen over time, with a predicted 14% fall in productivity by 2035.

Workers who are exposed to adverse environmental conditions such as working under the sun or with heat-generating machinery will face even higher economic losses. For every hot day, workers could experience a median income loss of S$21 per worker due to reduced productivity during working hours. The study estimates that this loss could nearly double to $1.64 billion in 2035 compared to pre-pandemic levels in 2018.

Scientists have warned that the world has surpassed a critical warming threshold, moving the planet into an era of extreme heat. The recent findings emphasize the urgent need to address the impact of rising temperatures on the economy and the overall well-being of the population, both in Singapore and around the world.

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