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Dutch bank reports expect that heatwaves and droughts in the European Union could lead to economic losses of up to 1% of GDP in 2026, approximately 180 billion euros. These heatwaves impact the economy by reducing labor and agricultural productivity, decreasing electricity output, and disrupting transportation and logistics. The greatest loss comes from decreased labor productivity. France will be the most affected, potentially losing 1.4 percentage points of its economic growth due to heatwaves, followed by Italy and Spain. Energy sources could decline by 2.2%, while inflation may rise by 0.2 to 0.3 percentage points. The challenges include rising temperatures, decreased rainfall, and impacts on agriculture, energy, and infrastructure sectors. Some damages might be mitigated through adaptation measures such as improving irrigation systems and adjusting working hours.
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