• Sun. Jun 23rd, 2024

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

BySamantha Johnson

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

Sitting by a pier during sunset in Singapore is a beautiful experience, but 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 revealed 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.

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 Johnson

As a content writer at newszkz.com, I delve into the realms of storytelling, blending words to paint vivid narratives that captivate and inform our readers. With a keen eye for detail and a passion for research, I craft compelling articles that resonate with our audience. My love for words drives me to explore diverse topics, ensuring that each piece I create not only educates but also entertains. Join me on this journey as we navigate the ever-evolving landscapes of news and knowledge together.

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