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

Singapore is experiencing a significant challenge with its increasing temperatures, which are warming at a rate twice as fast as the rest of the world. This rapid warming has resulted in extreme heat exposure, which not only affects cognitive capacity and physical exertion but also poses a risk to the country’s already low fertility rate. Recent research shows 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.

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. The project aims to raise awareness about the dangers of extreme heat exposure and encourage businesses and individuals to take measures to reduce their exposure and improve their resilience to extreme weather events. The project also seeks to provide policymakers with valuable insights into how they can address the economic and health impacts of extreme heat at a national level.

In conclusion, Singapore’s rapid warming presents a significant challenge for both its economy and its citizens. As global temperatures continue to rise, countries worldwide will need to address the economic and health impacts of extreme heat head-on if they hope to build sustainable economies that can thrive in an increasingly unpredictable climate future.

By Sophia Gonzalez

As a content writer at newsgreg.com, I am dedicated to crafting engaging stories that captivate our readers. With a knack for turning complex topics into accessible and compelling narratives, I weave words together to inform and inspire. My passion lies in delivering accurate and thought-provoking content that keeps our audience informed and entertained. From breaking news stories to in-depth features, I strive to bring a fresh perspective to every piece I create. Join me on this journey of exploration and discovery through the power of words at newsgreg.com.

Leave a Reply