The Global Infrastructure Report by G20’s Global Infrastructure Hub (GI Hub) has projected that the world population will increase by 25% to 2 billion over the next 25 years, further driving the need to increase spending on infrastructure.
Amongst Asian countries, China, India, and Japan are forecasted to be the main players with their needs expected to reach 40% of the global amount.
In the report, GI Hub expects China to account for US$23t infrastructure spending, a figure that is more than half of Asia’s spending and 30 percent of the global amount.
“While our forecasts for China suggest the country will need to continue to increase spending in the years ahead, these requirements appear affordable because they represent a lower proportion of GDP than has been spent in the past,” said GI Hub.
The report adds that India followed China with an expected infrastructure spending of US$3.9 trillion.
The group also stated, “As such, while population growth in India is expected to drive significant demand for infrastructure in India over the next 25 years, in absolute terms this infrastructure requirement will be substantially lower than in China, which is at a more advanced stage of development.”
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