WIFO Economist Scheiblecker: Longer Heat Waves Burden the Austrian Economy

Agriculture Under Pressure from Extended Heat Phase

The construction sector also faces new hurdles. Scheiblecker expects a seasonal construction gap in summer, comparable to the previously common winter break: "Es könnte im Sommer ein Bauloch entstehen wie bisher im Winter," he said. A shift to cooler phases is likely, "dadurch könnten die Kosten allerdings steigen – weil es länger dauert mit mehr Pausen und weil in kürzeren Phasen im Frühjahr und im Herbst mehr gebaut werden müsste; Verschiebungen sind mit Kosten verbunden, später könnte sich die Lage wieder normalisieren," the WIFO expert explained. This would initially incur adjustment costs before a normalization appears possible.

Construction Industry: Summer Construction Gap and Rising Costs

Regarding the supply of air conditioners, Scheiblecker sees little domestic value creation. "Klimaanlagen werden zur Gänze importiert, da profitiert die heimische Wirtschaft höchstens beim Einbau," he said. The increased demand for cooling also drives up the energy balance. Overall, higher energy demand is emerging, according to the WIFO economist. Whether the rising electricity demand will be met through imports or through the expansion of domestic solar energy depends largely on the level of investment.

Air Conditioners, Energy, and Housing Costs

Another aspect is housing costs. The increasing installation of air conditioners could raise construction or housing costs, Scheiblecker said. Higher construction costs due to changed construction periods and additional heat protection requirements would add to the burden.

Tourism, which is particularly important for the Austrian economy, must also permanently adapt to climate change, according to Scheiblecker. Adjustments are inevitable, even though their pace and depth remain open. Overall, the WIFO economist sees a picture of growing adjustment requirements with initial additional costs, which could later be offset by a possible normalization.

Tourism and Energy: Further Areas for Adjustment

Overall, Scheiblecker assesses the situation as differentiated: while adjustments to more frequent and longer heat periods are possible, they come with costs. Whether wind energy can close the gaps left by solar energy depends essentially on how much is invested in expansion.

Scheiblecker's statements point overall to a bundle of structural changes that the economy, energy supply, and consumers in Austria will have to address in the coming years.