Europe to suffer as the world warms up - by Andrew Bounds
Chilly northern Europe could reap big benefits from global warming, while the Mediterranean faces crippling shortages of both water and tourists by the middle of the century, according to the first comprehensive study of its effects on the continent.
Fewer in the north would die of cold, crops there would boom and the North Sea coast could become the new Riviera, an analysis to be approved by the European Commission next week shows. But the annual migration of rich northern Europeans to the south could stop – with dramatic consequences for the economies of Spain, Greece and Italy.
A sixth of the world’s tourists – 100m people annually – head south within Europe for their holidays, spreading €100bn ($130bn) of largesse with them. “The more tourists stay home or go to other destinations, the larger the distributional impact in Europe will be,” says the paper, a copy of which has been obtained by the Financial Times.
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