The world is investing in infrastructure. What does this mean for Kazakhstan?

The global economy is entering the largest infrastructure investment cycle in decades. According to PwC estimates, more than US$151 trillion will be required by 2050 to develop and modernize infrastructure. At the same time, not only the scale of investment is changing, but also the underlying logic: infrastructure is no longer a supporting element—it is becoming the foundation for digital, energy and economic transformation.

In this interview, Arman Nurkin, Partner at PwC, Leader of Valuation & Economics; Capital Projects and Infrastructure in Eurasia, shares his perspective on how global capital will be reallocated, which sectors will be in focus for investors, and what signals this trend sends to Kazakhstan.

According to PwC, global demand for infrastructure investment will reach US$151 trillion by 2050. What key processes and structural shifts are driving this estimate, and why is the role of infrastructure in the economy evolving so significantly today?

— This estimate primarily reflects the changing role of infrastructure in the economy. Previously, infrastructure was seen as a basic set of assets expected to function reliably. Today, however, infrastructure solutions increasingly determine an economy’s ability to grow, adapt to change and remain competitive.

Technological advancements, the energy transition and the growing complexity of global supply chains are placing new demands on the sector. Economies require an environment that enables the scaling of artificial intelligence, supports sustainable energy systems, facilitates the movement of people and goods, and drives the development of digital services. This is only possible when different components operate as an integrated system rather than in isolation.

As a result, infrastructure is increasingly viewed as a holistic system that underpins long‑term economic productivity. The way it is designed today will determine not only the pace of growth, but also its sustainability in the future.