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

In Singapore, the rapid warming rate has led to extreme heat levels in the country, resulting in economic losses due to heat stress. A recent study by the National University of Singapore revealed that there has been a decline in labor productivity across various economic sectors in the country.

In 2018, heat strain led to an 11.3% decrease in average productivity in sectors like services, construction, manufacturing, and agriculture. 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 could result in an additional $1.64 billion in economic losses by 2035 compared to pre-pandemic levels in 2018.

The rapid warming rate in Singapore has caused extreme heat levels and poses risks to residents’ fertility rate, which is already at historic lows. The UV index has reached “extreme” levels twice within four days, prompting concerns about the impact of such intense heat on residents’ cognitive and physical abilities.

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 both macroeconomic productivity and overall well-being of populations around the world.

In conclusion, it is crucial for governments and businesses worldwide to take immediate action against climate change and its effects on workers’ health and well-being. The economic costs of ignoring these issues are enormous and could lead to significant disruptions if not addressed promptly.

Singapore’s rapid warming rate is twice that of the global average, causing extreme heat levels that affect cognitive and physical abilities as well as pose risks to residents’ fertility rate. This trend is projected to worsen over time with a predicted fall in productivity by 2035 compared to pre-pandemic levels in 2018.

The study emphasizes that workers 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 they work.

The global scientific community has warned that we have surpassed a critical warming threshold moving us into an era of extreme heat, highlighting urgent need for action against climate change’s effects on both macroeconomic productivity and overall well-being worldwide.

By Aiden Johnson

As a content writer at newspoip.com, I have a passion for crafting engaging and informative articles that captivate readers. With a keen eye for detail and a knack for storytelling, I strive to deliver content that not only informs but also entertains. My goal is to create compelling narratives that resonate with our audience and keep them coming back for more. Whether I'm delving into the latest news topics or exploring in-depth features, I am dedicated to producing high-quality content that informs, inspires, and sparks curiosity.

Leave a Reply