Singapore’s Economy Could Lose Over $1.5 Billion Due to Heat Strain

Singapore’s economy is facing significant losses due to heat stress, which is projected to increase nearly twice as much as pre-pandemic levels by 2035. A recent study by the National University of Singapore revealed that labor productivity has declined across various sectors in the country, with an 11.3% decrease in average productivity in 2018. This trend is expected 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. Project HeatSafe is the first large-scale study in Singapore and the region to analyze the impact of rising heat levels on both individual health and macroeconomic productivity.

The rapid warming rate in Singapore, which is twice that of the global average, has caused extreme heat levels in the country. The UV index has reached “extreme” levels twice within four days, prompting concerns about the impact of such intense heat on residents. This level of heat exposure not only affects cognitive and physical abilities but also poses risks to the fertility rate, which is already at historic lows in Singapore.

On a global scale, 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.

Singapore’s economy is facing significant losses due to extreme weather conditions such as heat stress

By Samantha Johnson

As a content writer at newsnmio.com, I craft engaging and informative articles that aim to captivate readers and provide them with valuable insights. With a background in journalism and a passion for storytelling, I thoroughly enjoy delving into diverse topics, conducting research, and producing compelling content that resonates with our audience. From breaking news pieces to in-depth features, I strive to deliver content that is both accurate and engaging, constantly seeking to bring fresh perspectives to our readers. Collaborating with a talented team of editors and journalists, I am committed to maintaining the high standards of journalism upheld by our publication.

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