Infrastructure is transforming. Older economies – Europe, Japan, North America, Australia – need to revitalise in order to stay competitive. Newer economies in Asia and Latin America need to match their investment in infrastructure with their staggering population and economic growth. Infrastructure transformation offers a real chance to build jobs and fuel prosperity.
When planning for the future, leaders need to consider:
As nations and regions come to grips with these issues, infrastructure funding will evolve – is evolving now, in fact. The trend for governments to seek private-sector involvement in projects rather than go it alone will likely grow, as will participation by funds dedicated to specific kinds of infrastructure – water, for example. And high-growth economies such as Russia, Brazil, China and India may consume an increasing share of world investment capital.
Across the globe, shifting demographics, fast-moving technology and new economic engines will compel change. Countries will need to invest in and retool infrastructure to remain economically competitive.