|  NEWS

Increasing temperatures are risking the growth of Italy’s economy within the coming decades, with sectors such as tourism and agriculture set to be among the hardest hit.

This is according to a research project carried out by the Bank of Italy.

The findings from the study showed the broader impact of climate change, stating that businesses in certain parts of the country susceptible to flooding and landslides were more likely to fail than businesses located in other areas.

In addition, the Bank of Italy report highlighted the effect of pollution and high temperatures on students and workers. Worse performances in exams were registered on hot days, and an increasing number of work-related accidents were reported during times of poor air quality.

As it stands, Italy is already experiencing the impact of a changing climate. Back in July, a state of emergency was declared by the government in areas surrounding the river Po in the north of the country.

The Po valley makes up around a third of Italy’s agricultural production and has been suffering its worst drought for 70 years, Reuters news agency reports.

The Bank of Italy research project went on to say that gross domestic product per person could decline by any figure between the range of 2.8% and 9.5% by 2100, compared with baseline estimates.

In terms of tourism, winter sports are set to suffer the biggest impact of climate change, with a reduction in snowfall signalling fewer visitors would travel to the Alps to ski. The greatest risk would be felt at resorts at lower levels, the report shows, with artificial snow not able to fully compensate for the real thing.
 

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