The following is an excerpt from an article published on 6 July 2015 by the Infrastructure Intelligence website. Infrastructure Intelligence is produced for the industry by the Association for Consultancy and Engineering.

The need for infrastructure development is the great global challenges of our time. There is an essential and growing demand for infrastructure to address critical global issues such as climate change, energy demands, water and food shortages, mass urbanisation and economic and social development. To satisfy this need effectively and deliver lasting economic and social development the world needs the collective leadership, experience and creativity of the infrastructure community.

There is clear evidence that Investment in infrastructure leads to the growth of a countries economy and the improved wellbeing of its people. The McKinsey Global Institute recently estimated that over the next fifteen year the world needs to spend $57 trillion on infrastructure to realise global economic growth ambitions. In the UK alone infrastructure spending may need to run at £40bn to £50bn each year up to 2030 to meet demand.

Around the world Investment in infrastructure has always played a leading role in economic development, from the roads and aqueducts of ancient Rome to the railway boom in Britain in the mid 19th century. Basic infrastructure – roads, railways, airports, for energy generation and supply, water supply, sanitation, etc. underpins sustainable development and economic transformation of emerging economies…

Click here to read the full article on the Infrastructure Intelligence website.