Extreme Heat Could Cost Cyprus Up To €3.8 Billion By 2050

by News Editor

August 5, 2026

Heatwaves Threaten Productivity

Extreme heat could cost Cyprus between €2.3 billion and €3.8 billion by 2050 unless workplaces are adapted to cope with rising temperatures, according to a new study by the Cyprus Institute released on Wednesday.

Increasingly frequent and intense heatwaves could force employees working outdoors or in poorly cooled environments to reduce their working hours or stop work altogether during unsafe conditions.

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The research focused on sectors including construction, agriculture and tourism, where workers are particularly exposed to high temperatures and direct sunlight.

Economic Losses Expected To Grow

Comparing future projections with conditions recorded between 1980 and 2020, researchers found that employees are likely to face a growing number of days when temperatures exceed safe limits for normal work.

Lost working hours and lower productivity could cost the economy around €101 million by 2030, with annual losses rising to approximately €303 million by 2050.

Without measures to protect workers and adapt workplaces, the cumulative economic impact over the next 25 years could reach between €2.3 billion and €3.8 billion, the study estimates.

Researchers Call For Workplace Adaptation

Professor Theodore Zachariades, one of the study’s authors, said the research is the first to quantify the economic impact of lost working hours caused by extreme heat using Cyprus-specific data.

He warned that the financial burden would increase as very hot days become more frequent and prolonged in the years ahead. According to Zachariades, workers most exposed to high temperatures could also face serious health risks, highlighting the need for measures that protect both their wellbeing and their ability to work.

The Cyprus Institute said the findings underscore the importance of reducing the impact of rising temperatures on employees and the wider economy.

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Cyprus’ Strong Youth Employment Rate Still Does Not Guarantee Early Independence

by THEFUTURE.TEAM

September 16, 2026

Young people in Cyprus have a relatively high employment rate, but they leave the parental home later than the EU average, according to Eurostat data.

Cypriots left home at an average age of 27 in 2025, compared with 26.3 years across the EU. At the same time, 72.3% of people aged 20 to 29 in Cyprus were employed, well above the EU average of 65.5%.

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Strong Employment Does Not Mean Early Independence

Only nine countries recorded higher youth employment rates than Cyprus. Iceland led at 85.3%, followed by the Netherlands at 84%, Malta at 82.1%, Switzerland at 78.3% and Germany at 77%.

Norway recorded 76.5%, Ireland 76.1%, Denmark 74.8% and Austria 74.6%. Eurostat said countries where young people leave home earlier generally tend to have higher youth employment rates.

Southern Europe Sees Later Moves

Finland had the lowest average age for leaving the parental home at 21.4 years, followed by Denmark at 21.8 and Estonia and Lithuania at 22.7. Croatia recorded the highest average at 31.5 years, followed by Greece and Slovakia at 30.9. Spain and Italy both stood at 30.2 years.

Across the EU, the average has remained close to 26 since 2002, rising only slightly from 26.2 years in 2024 to 26.3 years in 2025.

Cyprus Labour Market Is Cooling

The figures come as Cyprus’ labor market shows some signs of easing, although demand for workers remains relatively strong by European standards.

Separate Eurostat data showed Cyprus had the EU’s largest annual decline in its job vacancy rate in the second quarter of 2026. The rate fell to 2.6% from 3.3% a year earlier, but remained above the EU average of 2.0% and the euro area average of 2.1%.

Cost Of Living Remains A Factor

Housing and other living costs can also affect how quickly young workers establish independent households. Eurostat reported that Cyprus’ household consumption price level was 89.2% of the EU average in 2025.

A relatively lower overall price level does not eliminate affordability pressures for people on modest incomes. For younger workers, the issue can be whether wages are sufficient to cover rent, utilities, food and other basic expenses.

Cyprus therefore combines relatively high youth employment with a later transition to independent living, suggesting that access to work and the ability to afford a separate household do not always move together.

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