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Extreme heat in Italy costs up to 12 billion a year, 0.4% of GDP: Confesercenti’s alarm
['Matthew Allen']
LNU News
When the heat costs in Italy: the four economic itemsThe estimate is made up of four items.
This is followed by higher energy costs, between 2 and 3 billion, linked to the need to cool for longer, and the drop in work productivity on days of intense heat, estimated between 1.5 and 3 billion.
Added to this are 1-2 billion in lost turnover in the most exposed sectors, from construction to agriculture to logistics and street trading.
But the heat doesn’t just take away hours of work: it also shifts consumption.
Why Confesercenti’s estimate is conservative: what European studies say0.2-0.4% of GDP may seem like a low figure when compared with the scientific literature.