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08.10.2026 14:56
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06.08.2026
ECONOMY
23:03

The Heat Wave Is Also "Burning" the Economy: How Much Could It Cost, and How Is Cyprus Affected?

The warning report that cites losses in the billions
ALPHANEWSLIVE


The heat this summer may seem unbearable, but this July is considered milder compared to previous years. This is also reflected in the statistics from the Meteorological Service, which show that temperatures this July have been lower.

“This July has been relatively mild compared to the Julys we’ve had in previous years. On days like the 24th and 25th, we even reached the threshold for a red alert—that is, temperatures close to 45 degrees Celsius.”
Andreas Chrysanthou – Meteorologist

The highest temperature recorded this July was in Nicosia, reaching 43.2 degrees Celsius. There were several consecutive days of warnings; however, it is encouraging that only two orange warnings were issued this year, on July 22 and 23.

READ ALSO: New yellow warning: At what times will the temperature hit “red”?

“This July isn’t the hottest in recent years. While we’ve had days with mostly yellow warnings, temperatures have generally been 2 to 3 degrees above seasonal averages.”
Andreas Chrysanthou – Meteorologist

We’ve also seen a series of yellow warnings now in early August, as for the past three consecutive days, the Meteorological Service has been issuing yellow warnings one after another.

The heat wave is taking its toll

The climate crisis no longer threatens only the environment; it’s also taking a heavy toll on citizens’ wallets. A new study by the Cyprus Institute warns that increasingly frequent extreme heat could cost the Cypriot economy up to 3.8 billion euros in the coming decades.

“The economic cost will be significant as the intensity and duration of very hot days increase in the coming years. The impacts on the most vulnerable and exposed workers in Cyprus may also be severe and require the implementation of adaptation measures to protect their health and productivity.”
Theodoros Zachariadis – Professor/Study Author

The study’s findings demonstrate that as climate change progresses, the number of days on which work will need to be suspended due to hazardous conditions will increase. Workers could lose up to nine additional workdays in 2030 and 27 days by 2050 due to extreme heat.

The loss of these work hours is expected to have a severe economic impact. Researchers estimate that the damage could reach 101 million euros in 2030 and exceed 300 million euros annually by 2050. Overall, without protective and adaptive measures in the workplace, the economic loss for Cyprus is estimated to reach between 2.3 and 3.8 billion euros by 2050.

Watch Eleni Michael’s report:

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