Switzerland pays dearly for heat waves
In Switzerland, the cost of this year's high summer temperatures has reached 400 million francs. A severe blow to the economy, in addition to the impact on the labor market due to increased leave requests and a rise in heat-related illnesses
The high temperatures of summer 2026 in Switzerland have had a significant impact on the economy, generating a cost of 400 million francs.
Furthermore, they have affected the labor and production sectors, as “longer breaks were necessary and sick leave was recorded.”
According to data from the insurance company Allianz Trade, “economic losses amount to 400 million francs, equivalent to approximately 0.05 % of the gross domestic product (GDP).”
Jan Möllmann, Managing Director of Allianz Trade in Switzerland, pointed out that in addition to the extreme summer temperatures, the next climate phenomenon, El Niño, is just around the corner. “This phenomenon could cost the global economy around $451 billion in 2027. China, the United States, and India together would bear almost 60 % of these losses. In Europe, including Switzerland, a net loss of around €21 billion is projected,” he added.
The insurer’s study concludes that adaptation and preparedness are essential to strengthening economies’ capacity to respond to these events. “Countries with early warning systems, risk maps, and clearly defined responsibilities are better prepared to face climate risks,” they stated.
M.Pino
Sources: swissinfo
(Reference image source: Immo Wegmann on Unsplash)
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