▲ Wildfires in France
Estimates show that economic damages from the wildfires and heatwaves sweeping across Europe have exceeded 3 billion euros (approximately 5 trillion won) this year.
The Financial Times (FT) reported on the 3rd that, according to its own data analysis, damages in the five countries hardest hit by wildfires and heatwaves—France, Spain, Portugal, Greece, and Romania—reached 3.1 billion euros, significantly surpassing the European Commission's (EC) estimate of 2.5 billion euros.
This estimate was calculated by taking into account data from the European Commission, French government estimates, and restoration costs to return wildfire-affected areas to their original state.
The total economic damage across Europe is expected to be much higher than this figure, with the insurance industry and other sectors continuing to investigate damages to real estate and crops, as well as the fallout from disruptions to the peak summer tourism season, according to the FT.
Meanwhile, the scale of damage caused by the drought has not yet been compiled.
The FT pointed out that the drought has lowered water levels in the Rhine and Danube rivers in particular, hindering logistics transport and reducing manufacturing output.
Factories belonging to German chemical companies such as BASF, Covestro, and Evonik are located along the Rhine basin and are suffering damages.
Hungary's nuclear power plant faces the risk of shutdown as the water level of the Danube River has dropped to a record low.
Romania's Cernavoda Nuclear Power Plant has also suspended operation of one of its two reactors as cooling water supplied from the Danube River has become scarce.
(Photo: AP, Yonhap News)
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