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

During sunset in Singapore, sitting by the pier can be a breathtaking experience. However, recent research shows that the country’s economic losses due to heat stress could almost double to $1.64 billion in 2035 compared to pre-pandemic levels in 2018. A study by the National University of Singapore reveals that heat strain caused an 11.3% decrease in average productivity across Singapore’s major economic sectors in 2018, including services, construction, manufacturing, and agriculture. This decline is expected to worsen in the coming years, with productivity expected to fall by 14% in 2035.

Workers who are exposed to adverse environmental conditions such as working under the sun or being exposed to heat from machinery face higher productivity losses. On average, workers lose around S$21 in median income for each hot day. 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.

The study finds that 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.

In conclusion, while sitting by a pier during sunset may seem like a relaxing break from work, it is important for Singaporeans and businesses alike to recognize and address the negative impacts of extreme heat on productivity and health. By investing in measures such as shade infrastructure and implementing policies that reduce exposure to high temperatures, Singapore can mitigate these effects and ensure its continued economic growth and prosperity for generations to come.

With this newfound knowledge about the potential economic losses due to heat stress, it is clear that action must be taken now before it’s too late. As global temperatures continue to rise at an alarming rate, countries worldwide will need to work together towards finding solutions that balance economic growth with sustainable development practices.

Furthermore, this research underscores how critical it is for governments around the world to take proactive measures against climate change before it becomes too late. While some steps have been taken so far towards reducing carbon emissions

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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