The Global Infrastructure Outlook is a landmark country-based online tool and report developed by the Global Infrastructure Hub with Oxford Economics, which forecasts infrastructure investment needs across 50 countries and seven sectors to 2040.
Although there are already forecasts for infrastructure investment in the market, the public and private sectors indicated their need for fresh, country-level data. Outlook was created to meet that knowledge gap.
For the first time we have data about what each country needs to spend in each sector, and importantly – the gap between what needs to be spent and current spending trends.
Back in 2000, a research assistant and I received a request from a multilateral development bank that wanted a model for how much money was needed for them to invest in Latin America. I put together a very simple model – it was actually more of a benchmarking exercise – asking what kind of infrastructure in roads, energy, and water/sanitation that countries had at that time, based on income, economic structure, and urbanization. Then I created projections in terms of income and urbanization. I thought, “Well, assuming countries grow this way and follow the patterns of the past, it’s quite easy to deduce an investment pattern and an investment amount.” I called this final figure the “infrastructure gap.” Little did I expect it, but the term caught on and a subset of literature of infrastructure investment was born. We’re still talking about the infrastructure gap today, and it is a focus of the upcoming Global Infrastructure Forum 2016.
But a lot has changed in 16 years, and it’s time to re-cast our conversation about the infrastructure gap. In fact, it’s imperative to change the conversation if we want to achieve our goals. And the Forum is the right place to start.