Over 18 years of hot and dry weather in Europe has led to a 3% drop in average annual family income and put 5.6 million Europeans at risk of poverty, Bloomberg reported, citing the study. Heat and drought are said to cause crop failures and disrupt supply chains, affecting wages. Hot weather slows down performance and increases the risk of heat stroke and cardiovascular disease.
The poorest sections of the population are most vulnerable to income loss, as they are more likely to have to miss shifts due to the weather, working in places where it is difficult to escape the heat, such as fields and construction sites.
They are also more likely to live in areas with limited access to water and little green space to moderate the heat. The study authors analyzed data on household incomes in the European Union between 2004 and 2022, then built a model excluding the effects of hot and dry weather and compared the results. The researchers found that residents of Madrid suffered the greatest financial losses, losing almost 10% of their income due to reduced productivity during the heat wave.
