Deficient infrastructure is arguably one of the biggest crises facing the US. The nation’s infrastructure is not only inadequate to meet future demands, but has also largely fallen out of a state of good repair for existing assets. Ultimately, everyone is negatively impacted— individuals, businesses, and governments. Without optimally functioning transportation systems, utilities, airports, internet and wireless networks a nation suffers competitively and in many cases public health is put at risk.
Underwriting the US infrastructure gap, a new publication from Swiss Re Economic Research & Consulting, examines the scope of the infrastructure crisis and explains how re/insurance can help reverse the trend by facilitating renewed, large-scale investment.
The difference between planned infrastructure investments and what’s actually needed is estimated at more than USD 2.1 trillion over the next decade. Thus, it may come as little surprise that the US fails to show up in the top 10 economies for infrastructure quality and trails Canada, Australia, South Korea, China and many European countries in terms of infrastructure spending as share of GDP.