Brussels, Europe and the Arabs

Europe suffered from heat waves, droughts, and floods this summer, causing economic losses of €43 billion, according to a study conducted by the University of Mannheim in Germany, in collaboration with two economists from the European Central Bank.
The researchers used meteorological data and economic models to estimate the damage caused by extreme weather events. They examined direct consequences, such as the destruction of roads, buildings, and crops during floods, as well as indirect consequences, such as production losses, deaths, and the costs of adapting to extreme weather events.
Long-term consequences were also monitored. "The true costs of extreme weather events are much greater than the direct consequences," explains Sirish Osman of the German university, who led the study. For example, shortages or damage to certain products due to drought can lead to inflation in the short or long term. Taking all these factors into account, researchers estimate that the total economic costs resulting from disasters in the summer of 2025 could reach €126 billion by 2029. Belgian newspapers in Brussels covered the findings, with the daily newspaper Nieuwsblad reporting on its website that Spain, France, and Italy were the hardest hit, each incurring losses exceeding €10 billion this year. In the medium term, costs could exceed €30 billion, with heatwaves and droughts expected to increase.
Central and northern European countries suffered less damage, but floods have become more frequent in recent years, which will also increase the costs of climate change.
The researchers point out that the actual figures are likely higher because they do not take into account cumulative effects—heatwaves and droughts often occur together—and some other consequences of climate change, such as fires.
The economic loss figures collected by insurance companies typically cover only damage to physical assets and ignore other indirect effects, such as productivity losses caused by heat.