Europe's 2025 Heatwaves, Droughts, and Floods Cost 126 Billion Euros
Heatwaves, droughts, and floods in Europe between June and August 2025 have caused devastating economic losses, according to a new study led by Dr. Sehrish Usman from the University of Mannheim. The extreme weather events have resulted in a staggering 126 billion euros in total costs by 2029.
The study, conducted in collaboration with economists from the European Central Bank, reveals that heatwaves alone have caused short-term damages of 6.8 billion euros and long-term total costs of over 30 billion euros. Southern European countries, particularly France, Spain, Italy, and Bulgaria, have been severely affected. Germany, while not spared, has incurred around 2.5 billion euros in losses.
Extreme rainfall flooding has added to the burden, with six countries facing direct flood damages of 6.5 billion euros and total costs of over 20 billion euros across the EU by 2029. Drought in southern EU regions has resulted in nearly 29 billion euros in short-term losses, with potential follow-up costs bringing the three-month losses to nearly 75 billion euros by 2029. In absolute terms, Spain, France, and Italy have borne the largest economic losses, while Greece, Cyprus, Malta, and Bulgaria have suffered the most significant losses in percentage terms.
The study's authors stress that their calculations are conservative, suggesting that actual damages could be substantially higher. The findings underscore the urgent need for robust climate change mitigation and adaptation strategies to protect European economies from the escalating impacts of extreme weather events.
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