The Mighty Effort to Save the USD 3.6 Trillion Global Infrastructure Market
19. June 2020
The USD 3.6 trillion annual global infrastructure market is one of the most important, complex, challenging - and potentially rewarding - markets in the world. It is also deeply in crisis from the Coronavirus epidemic. Those are the conclusions that I draw from the World Bank’s Annual Report on Global Economic Prospects (released 8 June 2020), which shows developed economy GDP declining by 7 percent this year, with overall global GDP declining 5.5 percent. Recovery to 2019 levels is pushed out through 2022 in the best of cases, and to the end of the decade for the hardest hit, weakest, countries. That is the problem, and it is a big one - it is also an enormous opportunity for emerging markets to move to get infrastructure right. The global infrastructure market presents a clear test of global will - and a challenge to our imaginations. At a time of acute need, how can we address the extraordinary demand for infrastructure investment in emerging markets – in terms of both basic needs, and assets fundamental for productivity and digital transformation?