Global Water Shortages To Have A Drastic Effect On Economies – World Bank


World bank warns that global water shortages will give a “severe hit” on the economies of the world. The financial agency predicts that the drastic effect will be made manifest by the middle of the century; first in the Middle East, central Asia and then Africa.

As it is, some African countries are currently experiencing droughts. Zimbabwe and Ethiopia are witnessing one of the most excruciating drought experience in their histories.

See Also: Ethiopia Suffers Worst Drought In 50 Years And The World Looks On

With the high rate of urbanization and the growing eco-trend of agriculture, World Bank said on Tuesday that there is the likelihood for the world to run short of water supplies by 2050. If this happens the blow will be more on areas that ordinarily do not have an efficient water supply. In other words, countries in this category will be forced to face a natural conflict. On a second leap, this might lead to migration.

According to World Bank, the rising global water shortages could reduce the GDP in the Middle East by 14% and central Asia by 11% and about 12% in Sahel’s GDP. With a functional water policy in countries in East Asia, the region could be affected by a 7% loss in their GDP.

The much stressed global water shortages have prompted a sense of urgency to world leaders. 2 months ago, Barack Obama invited business leaders to a summit that will address a remedy for the Californian drought.

Climate change seems to be a major worsening factor on the issue. Scientists say that a greater part of the world “faces a hotter and drier future under climate change.” This also implies that nature will be more and more unpredictable.

See Also: As Drought Hits, President Mugabe Says Zimbabwe Is In A “State Of Disaster”

Another spotted reason for the water deficit in the future is the increase in global population. As many surge into the cities and others largely delve into agriculture, water supply will also be in high demand. Thus there is a clear need to set up policies to help in the management of the world’s water resources.

A more direct effect of the global water shortage will be in the cost living by 2050.

“Water shortages could have rebounding effects on food production, public health, and household incomes – with families forced to pay more for a basic necessity.”Guardian