How investing in water can transform economies

In the west, few ever think about the economics of water. Costs for consumers are relatively cheap and taps almost never run dry, save occasional hose-pipe bans brought in during dryer-than-average periods. 

However, this situation is increasingly coming under stress, due to climate change and our ever-increasing water use, especially in agriculture. 

According to the Organization for Economic Co-operation and Development (OECD) 60% of the global population could face water issues by 2050, with low-income families bearing the brunt of the water crisis.

In some areas, water scarcity could dent economic growth by as much as 6% of GDP.

As World Water Day approaches on 22 March, we take a look at the current state of water resources on the planet and how one company is helping to make a difference in Qatar. 

Currently, over two billion people in the world don't have access to safe drinking water and sanitation, creating a massive block to development. Investing in these resources would have a massive impact, not just on an individual level, but also on a societal one too. 

Families would spend less time and money searching for water, freeing up more resources for education and work that helps to break cycles of poverty. Healthcare outcomes improve and costs fall. 

Universal access to basic water and sanitation would result in over €17 billion in economic benefits from fewer deaths alone, according to Water.org. It's estimated that overall every $1 (€0.93) invested in water and sanitation provides a $4 (€3.73) economic return from lower health costs, higher productivity and fewer premature deaths.

Yet water scarcity still lags behind as a political issue, something that has to change, according to the President of the World Water